MLB owners are “scheduled to vote Monday” on the Padres’ transfer of ownership to a group led by José E. Feliciano and Kwanza Jones. Getty Images
MLB owners are “scheduled to vote Monday” on the Padres’ transfer of ownership to a group led by José E. Feliciano and Kwanza Jones, according to sources cited by THE ATHLETIC. The deal “must be approved by 22 of 29 owners,” who will conduct the upcoming vote “by conference call.” Feliciano and Jones entered into an agreement in May to buy the Padres at a valuation of $3.9B, shattering MLB’s previous sale record of $2.4B. The husband-wife duo is set to purchase a controlling stake of more than 40%, with several other individuals and entities — including former Lakers execs Joey and Jesse Buss – joining the incoming ownership group “at a smaller combined percentage.” Some family members of late Padres owner Peter Seidler will “retain at least a portion of their team shares.” Feliciano, the co-founder and managing partner of Clearlake Capital, is “expected to be named as the control person of the Padres.” However, he and Jones “will run the franchise in tandem” (THE ATHLETIC, 8/11).