Padres Nearing Record $3.9B Sale to Private Equity Billionaire

The Seidler family is close to selling the MLB team to Jose E. Feliciano and Kwanza Jones.

Apr. 17, 2026 at 7:24pm

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A cubist, geometric painting depicting a fragmented baseball game or match, with sharp, overlapping planes of color in a vibrant palette representing the energy and excitement of the Padres' success.The potential record-setting sale of the San Diego Padres franchise reflects the team's rising value and passionate fan base.San Diego Today

The family of late San Diego Padres owner Peter Seidler is nearing a sale of the team for a record $3.9 billion to private equity billionaire Jose E. Feliciano and his wife Kwanza Jones, according to a person with knowledge of the negotiations.

Why it matters

The potential sale price would easily top the previous MLB record of $2.4 billion paid for the New York Mets in 2020, reflecting the Padres' value as San Diego's only major professional sports franchise and their passionate fan base that has helped set attendance records in recent years.

The details

Feliciano, the 53-year-old co-founder and managing partner of Clearlake Capital, was part of an investment group that purchased Premier League club Chelsea in 2022. The Seidler family began exploring a sale of the Padres last November, two years after the death of Peter Seidler, who had been the team's primary owner since 2020 and helped build several exciting playoff teams.

  • The Seidler family began exploring a sale of the Padres in November 2024.
  • Peter Seidler, the Padres' previous primary owner, passed away in 2022.

The players

Jose E. Feliciano

A 53-year-old private equity billionaire and the co-founder and managing partner of Clearlake Capital, a firm that was part of the group that purchased Premier League club Chelsea in 2022.

Kwanza Jones

The wife of Jose E. Feliciano and part of the investment group that is nearing a deal to purchase the San Diego Padres.

Peter Seidler

The late primary owner of the San Diego Padres, who helped build several exciting playoff teams before his passing in 2022.

John Seidler

The brother of the late Peter Seidler and the current chairman of the San Diego Padres.

A.J. Preller

The general manager of the San Diego Padres, who built a series of exciting teams that have reached the MLB playoffs in four of the last six seasons.

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What they’re saying

“The family of late San Diego Padres owner Peter Seidler is nearing a sale of the team, a person with knowledge of the negotiations told The Associated Press on Friday.”

— Unnamed Source, Person with knowledge of negotiations

What’s next

The sale of the Padres to Jose E. Feliciano and Kwanza Jones is expected to be finalized in the coming weeks, pending league approval.

The takeaway

The potential record-breaking $3.9 billion sale of the San Diego Padres reflects the franchise's value as the only major professional sports team in the city, as well as the team's recent success in building playoff-caliber rosters that have energized the fan base and set attendance records.