Padres Near Sale Amid Family Dispute
The San Diego Padres are poised for a sale following a tumultuous conflict within the ownership family after Peter Seidler’s passing in 2023. This potential deal could set a record.
Private equity mogul Jose E. Feliciano and his wife, Kwanza Jones, are close to finalizing an agreement to purchase the team for around $3.9 billion. This figure, as reported by the Wall Street Journal, would surpass the $2.4 billion Steve Cohen paid for the Mets back in 2020.
In November, Padres chairman and manager John Seidler indicated that the ownership group was looking into a sale.
“We honor Peter’s legacy and love for the Padres and approach this process with integrity and professionalism, aiming to set a strong foundation for our organization’s long-term success,” Seidler stated at the time. He added that, as they prepare for the upcoming 2026 season, the Padres are dedicated to focusing every resource on achieving a World Series victory, expressing commitment to the team and the San Diego community.
However, this move is complicated by a family feud involving the Seidlers. In January 2025, the late owner’s widow, Seal Seidler, filed a lawsuit against her two brothers-in-law, Matthew and Robert, seeking to prevent John from assuming control of the franchise.
This lawsuit, initiated in Texas, alleged “breach of trust, fraud, conversion, and gross self-dealing,” according to reports at the time.
Seal asserted her desire to be named the control person for the Padres, stating, “I believe this is the right way and the best way to protect the Padres franchise and ensure that the vision Peter and I shared for the team continues.”
Following this, John was appointed as the control person for the Padres in February 2025, with support from MLB owners.
Recently, The Athletic reported that Seal had “dropped most of the allegations” against Matthew and Robert in their dispute.
Feliciano, who co-founded Clearlake Capital in 2006, boasts a net worth of $3.9 billion, according to Forbes. He has also previously worked in investment banking at Goldman Sachs and served as the CFO at govWorks.
