Padres Sold for Record $3.9 Billion

Clearlake Capital co-founder José E. Feliciano and wife Kwanza Jones to purchase MLB franchise

Apr. 17, 2026 at 4:54pm

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A cubist, geometric painting depicting a fragmented baseball game, with overlapping planes of navy, crimson, and gold representing the dynamic energy and shifting perspectives of the sport.The record-breaking $3.9 billion sale of the San Diego Padres franchise reflects the surging value of professional sports teams.San Diego Today

The San Diego Padres are being sold to José E. Feliciano, co-founder of private equity firm Clearlake Capital and part-owner of Chelsea FC, and his wife Kwanza Jones for a record $3.9 billion, according to reports. The deal is expected to be officially announced in the coming days.

Why it matters

This sale would set a new record for the highest price ever paid for an MLB franchise, surpassing the previous high of $2.4 billion paid for the New York Mets in 2020. The Padres have been seeking new ownership for several years, and this sale represents a major shift in the team's future direction.

The details

Feliciano and Jones are acquiring the Padres from the current ownership group led by Peter Seidler. The deal is still pending approval from MLB owners, but is expected to be finalized in the near future. Feliciano is the co-founder of private equity firm Clearlake Capital and also owns a stake in the Premier League's Chelsea FC.

  • The sale is expected to be officially announced in the coming days.
  • The previous MLB franchise sale record was the $2.4 billion paid for the New York Mets in 2020.

The players

José E. Feliciano

Co-founder of private equity firm Clearlake Capital and part-owner of Chelsea FC, who is acquiring the San Diego Padres with his wife Kwanza Jones.

Kwanza Jones

Wife of José E. Feliciano, who is acquiring the San Diego Padres with her husband.

Peter Seidler

Current owner of the San Diego Padres, whose ownership group is selling the team to Feliciano and Jones.

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What’s next

The sale of the Padres to Feliciano and Jones is still pending approval from MLB owners, but is expected to be finalized in the coming days.

The takeaway

The record-setting $3.9 billion sale of the San Diego Padres to José E. Feliciano and Kwanza Jones represents a major shift in MLB franchise ownership, with deep-pocketed investors continuing to pour money into the sport.