MLB Owners Unanimously Approve Sale of San Diego Padres to José E. Feliciano and Kwanza Jones

Major League Baseball owners unanimously approved the San Diego Padres’ sale to a group led by José E. Feliciano and Kwanza Jones on Monday, clearing the league’s biggest formal hurdle for the ownership transfer, though the transaction still must close.

In announcing the vote, MLB designated Feliciano as the Padres’ “Control Person,” the league-recognized controlling owner under its governance rules. MLB also said the club’s day-to-day operations will remain under its current leadership, with CEO Erik Greupner and President of Baseball Operations and General Manager A.J. Preller continuing in their roles.

The vote was conducted during a conference call, according to MLB and the Padres. The approval, however, is not yet final in practical terms. MLB said the transaction “remains contingent upon the closing of the transaction involving the controlling interest in the Club with the current owners of the Padres,” with closing “expected in the weeks ahead.”

The approval follows the May 2 announcement that the Seidler family had agreed to transfer control of the franchise to Jones and Feliciano, subject to MLB approval and customary closing conditions. The transfer came after the death of Padres chairman Peter Seidler in November 2023.

MLB framed Monday’s vote as both a transition and a continuation. Under Seidler family ownership, the Padres reached the postseason four times in the last six years. Commissioner Robert D. Manfred Jr. also thanked the Seidler family for its stewardship and referenced Peter Seidler in the league’s announcement.

The sale has drawn outsized attention across baseball because earlier reporting by Bloomberg, The Wall Street Journal, ESPN and others valued the transaction at about $3.9 billion. If finalized at that level, it would represent a record valuation for an MLB franchise, based on those earlier reports. MLB’s approval announcement on Monday did not disclose a price.

Feliciano is the co-founder and managing partner of Clearlake Capital. Jones is an investor, entrepreneur, artist and philanthropist, and CEO of the Kwanza Jones & José E. Feliciano Initiative.

For MLB, Monday’s vote resolves the league approval piece that had been hanging over one of baseball’s biggest sports-business deals. For the Padres, it means the ownership handoff is closer, but not yet complete, and that the club’s current baseball and business leadership structure remains in place for now.

“It is my pleasure to welcome José E. Feliciano and Kwanza Jones as the new majority owners of the Padres following today’s vote,” Manfred said.

Jones and Feliciano, in a joint statement, said their goals extend beyond completing the purchase.

“Our ambition is clear: to bring a World Series championship to San Diego and build an enduring organization capable of competing for championships year after year.”