Padres Reach Agreement to Transfer Ownership to Kwanza Jones and José E. Feliciano

The San Diego Padres said Saturday that the Seidler family has entered into a definitive agreement to transfer control of the franchise to a new ownership group led by Kwanza Jones and José E. Feliciano, in a deal that is subject to approval by Major League Baseball and customary closing conditions.

The team did not disclose financial terms and said no further information about the transaction would be released at this time. Multiple major news outlets, including Bloomberg, The Associated Press and ESPN, previously reported that the deal values the Padres at about $3.9 billion. If that reported valuation is accurate, it would surpass the $2.42 billion paid for the New York Mets in 2020 and set a new benchmark for an MLB club sale.

The Padres said the club will continue to operate in the ordinary course throughout MLB’s approval process and that there will be no changes to day-to-day business operations as a result of the announcement. Transfers of control for MLB teams require league approval, and the transaction is not final until that process is completed.

“I’m thrilled that after a highly competitive process, Kwanza Jones and José E. Feliciano will become the next majority owners of the Padres,” said Padres Chairman John Seidler.

Jones and Feliciano said in a joint statement: “The Padres are more than a baseball team; they are a unifying force in San Diego, rooted in community, connection, and belonging. As life and business partners, and as a family, we are honored to lead this next chapter together.”

Feliciano is the co-founder and managing partner of private-equity firm Clearlake Capital and is part of the ownership group of Chelsea Football Club. Jones is an artist, entrepreneur, impact investor and philanthropist.

The Padres have been controlled by the Seidler family since 2012, with Peter Seidler becoming the public face of ownership before his death in November 2023. John Seidler has served as the family’s control person since then. In November 2025, the Seidler family said it would evaluate its future with the franchise, including a potential sale.