The San Diego Padres have officially announced a definitive agreement to transfer control of the franchise to an ownership group led by Kwanza Jones and José E. Feliciano. The deal, confirmed by the family of the late Peter Seidler on Saturday, represents a monumental shift for the organization and the league at large. Valued at a record-shattering **$3.9 billion**, the sale is poised to become the most expensive transaction in Major League Baseball history, eclipsing the previous $2.42 billion mark set in 2020.
A Landmark Moment for Representation
This transition is about more than just financial figures; it is a historic milestone for diversity in professional sports. Upon approval by 75% of MLB owners, Kwanza Jones will become the **first Black woman to serve as a majority owner** of a Major League Baseball team. Her husband and partner, private equity billionaire José E. Feliciano, will become the league’s second Latino owner, joining Arte Moreno. The couple, who are prominent investors and philanthropic leaders, bring a wealth of experience from the business and sports worlds, including Feliciano’s existing involvement with Chelsea FC.
Honoring the Seidler Foundation
The decision to sell comes after a highly competitive bidding process following the passing of Peter Seidler in 2023. John Seidler, current Padres Chairman, described the transition as a “passing of the baton,” expressing total confidence that Jones and Feliciano share the family’s vision for the club. The Seidler family has overseen a period of unprecedented investment and fan engagement in San Diego, and the new leadership has pledged to maintain that commitment to excellence and community connection.
A Commitment to the City and the Crown
In a joint statement, Jones and Feliciano emphasized that the Padres serve as a “unifying force” for the city of San Diego. They have committed to an “all-in” approach with the singular goal of delivering a World Series championship to the faithful fans at Petco Park. The new owners highlighted their dedication to listening to the community and ensuring the team remains an accessible and enduring institution for future generations.
Next Steps for League Approval
While the agreement is finalized between the buyers and the Seidler family, the sale still requires the formal stamp of approval from Major League Baseball. The league’s vetting process and subsequent owners’ vote are expected to take place in the coming months, likely during the quarterly owners’ meeting in June. Until then, the Padres will continue their 2026 campaign with the momentum of a franchise on the brink of an ambitious and historic new era.