Padres Finalizing Record $3.9 Billion Sale to José E. Feliciano

Clearlake Capital co-founder and Chelsea FC owner set to purchase MLB franchise

Apr. 17, 2026 at 3:40pm

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A fractured, multi-perspective painting depicting a baseball stadium scene, with the field, players, and crowd broken down into sharp, overlapping geometric shapes in vibrant colors like royal blue, orange, and emerald green.The $3.9 billion sale of the San Diego Padres franchise shatters the previous MLB record, signaling the immense value and growth potential of professional baseball teams.San Diego Today

The San Diego Padres are close to being sold to José E. Feliciano, Clearlake Capital co-founder and part of the Chelsea FC ownership group, and his wife Kwanza Jones for an MLB-record price of $3.9 billion, according to a report from the Wall Street Journal. The deal is expected to be announced in the coming days and would surpass the previous MLB record of $2.4 billion paid by Steve Cohen for the New York Mets in 2020.

Why it matters

This record-breaking sale price reflects the increasing value of MLB franchises and the Padres' potential for growth under new ownership. The Padres have been a competitive team in recent years, making the playoffs four times in the last six seasons, though they have yet to win a World Series title.

The details

The reported $3.9 billion sale price would be the largest for a team sale in MLB history. Other groups that were in the final round of bidding included those led by Dan Friedkin (Everton), Tom Gores (Detroit Pistons), and Joe Lacob (Golden State Warriors). Feliciano's net worth is said to be the same as the sale price.

  • The Padres' ownership situation has been uncertain since the death of beloved owner Peter Seidler in November 2023.
  • The sale process began in earnest last November when the Padres ownership group announced plans to sell the franchise.
  • The Padres' Opening Day payroll slipped from $248.9 million (3rd in MLB) in 2023 to $164.5 million (14th) in 2024 following Seidler's passing.

The players

José E. Feliciano

Clearlake Capital co-founder and part of the Chelsea FC ownership group who is set to purchase the Padres for a record $3.9 billion.

Kwanza Jones

Wife of José E. Feliciano and co-purchaser of the Padres franchise.

Peter Seidler

Beloved former owner of the Padres who passed away in November 2023, leading to uncertainty in the team's ownership.

John Seidler

Part of the Padres ownership group that announced plans to sell the franchise last November.

Steve Cohen

Current owner of the New York Mets, who previously held the record for largest MLB franchise sale at $2.4 billion.

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What they’re saying

“If indeed the reported $3.9 billion sale price comes to pass, it would by a large margin be the largest sales price of a franchise in MLB history.”

— Dayn Perry, Author

What’s next

The sale is expected to be officially announced in the coming days once the deal is finalized.

The takeaway

This record-breaking sale highlights the immense value of MLB franchises and the Padres' potential for growth under new ownership. It also marks a significant transition for the team following the passing of beloved former owner Peter Seidler.