The San Diego Padres' sale process is nearing its conclusion, with an agreement between the Seidler family and a preferred bidder expected as soon as early next week. The club's auction has narrowed to four finalist groups led by Jose E Feliciano, Dan Friedkin, Tom Gores and Joe Lacob.
The deal could come in around $3.5 billion, a figure that would blow past Major League Baseball's current franchise-sale record of $2.42 billion, set in 2020 when Steve Cohen bought the New York Mets. Each finalist group took part in a final round of bids this week, and the Padres would still need approval from at least 75 percent of MLB owners, a vote that could come within a matter of weeks.
That price would also top the Padres' most recent estimated value. Sportico and Forbes each put the club at $3.1 billion last month, with Forbes calling that a 59 percent increase from a year earlier. The team was put on the market in November, two years after the death of late owner Peter Seidler.
The Padres have carried some momentum into the sale, drawing an average attendance of 42,677 through 12 games at Petco Park and winning seven consecutive games. Jose E Feliciano is a co-owner of Chelsea, while Friedkin owns Everton, Gores owns the Detroit Pistons and Lacob is the lead owner of the Golden State Warriors. The next step is not just choosing a bidder but clearing a league vote that would decide whether the largest MLB franchise sale ever actually closes.