San Diego Padres near record $3.9 billion sale as family feud aftermath reshapes franchise future
After a bitter feud within the ownership’s family that occurred following Peter Seidler’s death in 2023, the Padres are on the verge of being sold — and it will be a record-setting deal.
José E. Feliciano, a private-equity billionaire, and his wife, Kwanza Jones, are “nearing a deal” to buy the San Diego team for around $3.9 billion, according to the Wall Street Journal.
That’d serve as an MLB record, topping Steve Cohen’s purchase of the Mets for $2.4 billion in 2020.
John Seidler, the Padres’ chairman and control person, announced in November that the ownership group was considering a potential sale.
“We will undertake this process with integrity and professionalism in a way that honors Peter’s legacy and love for the Padres and lays the foundation for the franchise’s long-term success,” Seidler said in a statement at the time. “During the process and as we prepare for the 2026 season, the Padres will continue to focus on putting every resource into winning a World Series championship. We remain fully committed to you, this team, and the San Diego community.”
But the underlying layer to the Padres’ sale was the Seidler family feud, which bubbled to the surface in January 2025 when Sheel Seidler — the widow of the late Padres owner — sued her two brothers-in-law, Matthew and Robert, to prevent John from taking control of the San Diego franchise.
The lawsuit, filed in Texas, alleged “fiduciary breaches of trust, fraud, conversion and egregious acts of self-dealing,” according to the Associated Press at the time.
José E. Feliciano is “nearing” a deal to acquire the Padres.Bloomberg via Getty Images
The Padres are nearing a deal to be sold.IMAGN IMAGES via Reuters Connect
Sheel wanted to be named the Padres’ control person, and she said in a statement at the time that, “I am confident it is the right one and the best way to protect the Padres franchise and ensure the vision that Peter and I shared for the team will continue.”
John was named the Padres’ control person in February 2025 after being approved by MLB owners.
The Athletic reported last week that Sheel “dropped the bulk of her claims” against Matthew and Robert.
Feliciano co-founded Clearlake Capital in 2006 and has a net worth of $3.9 billion, according to Forbes, and he previously worked in investment banking at Goldman Sachs and as the chief financial officer at govWorks.
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