San Diego Padres franchise purchased for $3.9 billion by José E. Feliciano
Credi: Sportico
It was reported on Thursday, April 16th, by The Athletic’s Dennis Lin, that an agreement between the Seidlers and the selected buyer could be done by early next week.
Here we are one day later, on April 17th, with multiple reports of a nearing sale. A group led by José E. Feliciano and his wife is expected to become the buyers of the franchise. First on the news was a very respected journalist, Jared Diamond of the Wall Street Journal. In Diamond’s report, the deal would be worth a record-breaking $3.9 billion. This is $1.5 billion more than what Steven Cohen purchased the New York Mets for in 2020.
Lin would later confirm that Chelsea’s co-owner, José E. Feliciano, and the ownership group would be close to making the deal for the previously mentioned $3.9 billion.
The other finalists in contention
The four groups that were in the running for purchasing the Padres all took part in their final round of bids earlier in the week. José E. Feliciano and his wife, Kwanza Jones, were, of course, a part of a group. San Diego native and owner of Everton F.C. of the Premier League, Dan Friedkin, was leading another. Tom Gores, owner of the Detroit Pistons of the NBA, was another bidder. The final group to purchase the team was led by the majority owner of the Golden State Warriors, Joe Lacob.
About the Padres new owner
Feliciano, born in Puerto Rico, graduated from Princeton University with a degree in mechanical and aerospace engineering. He would later get his MBA from the Stanford Graduate School of Business. Feliciano, along with two other men, is a part of the founding group of Clearlake Capital, a private equity firm that specializes in technology, industrial, and consumer markets. As of early 2026, this firm has over $90 million in assets under management.
In May 2022, Feliciano and Clearlake Capital co-led a group to buy Chelsea F.C. of the Premier League. Chelsea is based in London, England. The football club was purchased for over £4.25 million at the time.
The Process
Once this agreement is officially agreed upon by both parties, the sale would still need to be approved by more than 75% of MLB’s owners. This vote could happen within the next few weeks.
Feliciano and his ownership will have big shoes to fill with this fan base that is eager for the team to spend after no big money moves in the offseasons following Peter Seidler’s passing in November of 2023.
Regardless of AJ Preller becoming handcuffed and having to get creative with low-risk moves, the Padres made the playoffs back-to-back seasons in 2024 and 2025, recording 90 wins in both years.
Ramón Laureano and Adrián Morejón are both key members of the current Padres’ team and are set to become free agents after the 2026 season. Starters Nick Pivetta and Michael King are both able to opt out of their contracts following the season as well. Spending large and keeping these major contributors in town for the foreseeable future could and should be a major priority for the Padres’ new owner and make a great first impression on the city.
Angel grew up a San Diego sports fan, following the Padres, SDSU athletics, San Diego FC, as well as the Chargers. He is currently a third year community college student, and will transfer to SDSU to pursue a career in Journalism.