Representatives for four groups still in the running to purchase the San Diego Padres visited the team’s spring training complex in Peoria, Ariz., this week.
According to a report by Kevin Acee of the San Diego Union-Tribune on Friday, the new target for completing a sale by the Seidler family is by the end of April. Acee reported the sale price is now expected to be at least $2.5 billion with the potential to go over $3 billion. The current record for the purchase of an MLB team is $2.42 billion by Steve Cohen for the New York Mets in 2020. Five groups had submitted initial bids by late February.
None of the four finalists has been publicly named. Previously, the reported contenders included Jose E. Feliciano, whose ClearLake Capital is based in Santa Monica and holds ownership stake in the soccer team Chelsea of the English Premier League; San DIego-born Dan Friedkin, CEO of The Friedkin Group that owns auto dealerships and hotels, while he also has ownership shares of soccer teams Everton in the EPL and Roma in Serie A; and Joe Lacob, owner of the NBA’s Golden State Warriors and WNBA’s Golden State Valkyries.
Another entity, Vuori founder Joe Kudla and former San Diego Chargers quarterback Drew Brees, were thought to be another group trying to buy the Padres, but that was later clarified to state that those two would be helping another group in their bid for the Friars. Kudla is a graduate of the University of San Diego, and Vuori is headquartered in Carlsbad. Brees has been seen over the years as a fan at Petco Park.
The Seidler family announced in mid-November that it would put the Padres up for sale. This came after Peter Seider died in November 2024. Following the resolution of legal issues between Seidler’s brothers and his widow, the bid process officially began.
According to the Union-Tribune, the family owns less than 50% of the team, including a 24% stake that is held by Peter Seidler’s trust. Peter Seidler’s widow, Sheel Seidler, and their three children are the beneficiaries of the trust. The remaining portion of ownership is between 10 and 12 other entities that are minority owners.
Peter Seidler and Ron Fowler led a group that bought the Padres in 2012 for $800 million.
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