The Padres were put up for sale last November by the family of the late Peter Seidler. Seidler was among a group that bought the franchise in 2012 for US$800 million, before he became their largest shareholder in 2020. He passed away in November 2023.<\/p>\n
Peter Seidler\u2019s brothers Matt and Bob Seidler then assumed control of the baseball outfit but were then sued by Peter Seidler\u2019s widow Sheel Seidler. However, The Athletic<\/a> reported this week that Sheel Seidler has dropped most of her claims against the two brothers, which would help pave the way for the Padres\u2019 sale.<\/p>\n Sportico subsequently reports that Friedkin, who owns Premier League<\/a> club Everton<\/a> and Serie A outfit AS Roma<\/a>, is engaged in the sale process. He was previously a finalist in the bidding for the National Basketball Association\u2019s (NBA<\/a>) Boston Celtics<\/a> and has been linked with owning a National Hockey League (NHL<\/a>) expansion team in Houston.<\/p>\n Another individual said to be involved is Feliciano, a co-founder of Clearlake Capital<\/a>, the firm that co-owns English soccer giant Chelsea<\/a>. However, his bid, according to Sportico, would be through his family office. Feliciano has previously been close to investing in the National Football League (NFL<\/a>), having been linked with the Los Angeles Chargers<\/a> and Denver Broncos<\/a> respectively.<\/p>\n A report from Sports Business Journal (SBJ)<\/a> also indicates that Golden State Warriors<\/a> co-owner Joe Lacob is also interested in buying the Padres, after touring the club\u2019s facilities last week.<\/p>\n The Padres\u2019 sale process is being overseen by investment bank BDT & MSD Partners. Forbes most recently valued<\/a> the franchise to be worth US$1.95 billion, making them the 17th most valuable MLB team. The Athletic reports that the Seidler family wants to reach a sale price above that estimate.<\/p>\n The most recent sale of a controlling stake in a MLB outfit came last September, when a group led by Patrick Zalupski closed a deal to buy the Tampa Bay Rays<\/a>. The franchise was reportedly valued at US$1.7 billion.<\/p>\n The record price for an MLB outfit currently sits at US$2.42 billion, which was the amount Steve Cohen paid for the New York Mets<\/a>. While a considerably lower figure when compared to other major North American leagues, growing viewership, attendances and sponsorship earnings will provide optimism for investors that MLB team valuations will continue to grow.<\/p>\n
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