PHILADELPHIA \u2014 Major League Baseball Commissioner Rob Manfred said Tuesday that the sale of the Padres will get \u201cdone.\u201d<\/p>\n
His comments on the state of the Padres\u2019 ownership transfer were consistent with what others familiar with the process have indicated in recent weeks.<\/p>\n
\u201cIt\u2019s a question of getting investment commitments, documentation to be put in a condition that it\u2019s ready for a club vote,\u201d Manfred said.<\/p>\n
The Padres announced in early May that the Seidler family had entered into an agreement to transfer control of the franchise to a group led by Jos\u00e9 E. Feliciano and Kwanza Jones. The deal valued the club at a record $3.9 billion.<\/p>\n
Feliciano and Jones are expected to hold a stake of around 45%, with several people and entities, including some current stakeholders, making up the rest of the new ownership group.<\/p>\n
Manfred declined to give a timeline on when the sale will be completed. Others have estimated that a vote of MLB\u2019s team owners will take place in August. The transfer of ownership must be approved by 22 of 29 \u00a0owners.<\/p>\n
The initial timeline for the sale to be complete had owners potentially voting in June.<\/p>\n
That proved to be ambitious given the multiple parties involved and the need to find new investors.<\/p>\n
The timing of the announcement also appears to have played into the perception that the process has lagged. According to multiple people who have been involved in team sales, the machinations that have taken place over the past few months generally occur before such an announcement.<\/p>\n
Manfred\u2019s comments alluded to that as well.<\/p>\n
\u201cWhen people in the public become aware of the sale \u2014 this one was earlier, quicker than what sometimes happens,\u201d Manfred said. \u201cUsually, it gets public when it\u2019s a little closer to final documents. But (the sale) will get done.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"PHILADELPHIA \u2014 Major League Baseball Commissioner Rob Manfred said Tuesday that the sale of the Padres will get…\n","protected":false},"author":2,"featured_media":751748,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2290],"tags":[5,853,4,18,185,3546],"class_list":["post-751747","post","type-post","status-publish","format-standard","has-post-thumbnail","category-baseball","tag-baseball","tag-latest-headlines","tag-mlb","tag-san-diego-padres","tag-sports","tag-top-stories-sdut"],"share_on_mastodon":{"url":"https:\/\/channels.im\/@mlb\/116919710762757039","error":""},"_links":{"self":[{"href":"https:\/\/www.rawchili.com\/mlb\/wp-json\/wp\/v2\/posts\/751747","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.rawchili.com\/mlb\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.rawchili.com\/mlb\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.rawchili.com\/mlb\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.rawchili.com\/mlb\/wp-json\/wp\/v2\/comments?post=751747"}],"version-history":[{"count":0,"href":"https:\/\/www.rawchili.com\/mlb\/wp-json\/wp\/v2\/posts\/751747\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.rawchili.com\/mlb\/wp-json\/wp\/v2\/media\/751748"}],"wp:attachment":[{"href":"https:\/\/www.rawchili.com\/mlb\/wp-json\/wp\/v2\/media?parent=751747"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.rawchili.com\/mlb\/wp-json\/wp\/v2\/categories?post=751747"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.rawchili.com\/mlb\/wp-json\/wp\/v2\/tags?post=751747"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}