Santa Monica Private Equity Exec Reaches Deal to Buy San Diego Padres

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Jose E. Feliciano, the co-founder and managing partner of Santa Monica-based private equity firm Clearlake Capital Group, has reached a deal to purchase the San Diego Padres baseball team for a record $3.9 billion, according to reports. If approved by Major League Baseball, the sale would surpass the current $2.4 billion record set by the New York Mets in 2020.

Why it matters

The potential sale of the Padres to Feliciano and his wife would mark a significant shift in MLB team ownership, as private equity firms have increasingly looked to invest in professional sports franchises in recent years. The record-breaking price tag also reflects the growing value and popularity of major league baseball teams.

The details

Feliciano, who was born in Puerto Rico, co-founded Clearlake Capital in 2006 with Iranian-American businessman Behdad Eghbali. The firm, which has over $90 billion in assets under management, is headquartered in Santa Monica with affiliate offices globally. Feliciano and his wife, who is the CEO of a motivational media company and co-founder of a philanthropic platform, would reportedly have an equal stake in the Padres, but Feliciano would be the controlling owner.

• The deal was reported on April 17, 2026.
• The current MLB franchise record sale price is $2.4 billion, set by the New York Mets in 2020.

What’s next

The proposed sale of the San Diego Padres to Feliciano and his wife still requires approval from Major League Baseball before it can be finalized.