The pending sale of the San Diego Padres could become official as soon as next week.
Major League Baseball owners are scheduled to vote Monday on the Padres’ transfer of ownership to a group led by José E. Feliciano and Kwanza Jones, team and league sources told The Athletic on the condition of anonymity because they were not authorized to publicly discuss the process. The deal must be approved by 22 of 29 owners, who will conduct the upcoming vote by conference call.
Feliciano and Jones entered into an agreement in May to buy the Padres at a valuation of $3.9 billion, shattering MLB’s previous sale record of $2.4 billion. The husband-wife duo is set to purchase a controlling stake of more than 40 percent, with several other individuals and entities — including the youngest sons of former Los Angeles Lakers owner Dr. Jerry Buss — joining the incoming ownership group at a smaller combined percentage. Some family members of late Padres owner Peter Seidler will retain at least a portion of their team shares.
Feliciano, the co-founder and managing partner of private equity firm Clearlake Capital, is expected to be named as the control person of the Padres. However, he and Jones will run the franchise in tandem. Feliciano also serves as a co-controlling owner of Premier League club Chelsea. Jones is the founder and CEO of media and personal development company Supercharged. She and her husband co-founded the Kwanza Jones & José E. Feliciano Initiative, an investment and philanthropic organization that has committed more than $500 million to various efforts.
Last month, Feliciano and Jones submitted the final documentation needed to move the sale process to a vote.
The couple is said to have stayed in contact with Padres decision-makers since the agreement to purchase the team. San Diego, currently a game outside of the National League playoff picture, added about $6 million in payroll at last week’s trade deadline.
