Padres Sell to José E. Feliciano for MLB-Record $3.9 Billion

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The Padres have found their new owner. On Friday, news broke that the Seidler family was selling the franchise to private equity billionaire José E. Feliciano and his wife, Kwanza Jones, for a valuation of $3.9 billion. That amount shatters the previous MLB record set when Steve Cohen bought the Mets for $2.4 billion in 2020.

Why it matters

The Padres have become one of MLB's most competitive teams in recent years, reaching the postseason in four of the last six years and consistently ranking among the league's top teams in attendance. This record-breaking sale highlights the immense value and growth potential of MLB franchises, especially those with strong on-field performance and fan engagement.

The details

Feliciano is the co-founder and managing partner of Clearlake Capital, who acquired Chelsea FC in May 2022 for more than £4.25 billion. The results on the field have been mixed at best for the club since the acquisition. Under the watch of late owner Peter Seidler, the Padres have become one of MLB's most competitive teams, reaching the postseason in four of the last six years and being in the top five in attendance in each of the past five seasons. During the 2025 campaign, Petco Park was sold out for 72 of the team's 81 home games.

• The Padres sale was announced on April 17, 2026.
• The previous MLB record for a team sale was set when Steve Cohen bought the Mets for $2.4 billion in 2020.

What’s next

It remains to be seen how Feliciano will lead the Padres and whether he can continue the team's recent success on the field.