Padres Sold to Chelsea Owner José E. Feliciano MLB-Record $3.9 Billion
The Padres have found their new owner.
On Friday, news broke that the Seidler family was selling the franchise to private equity billionaire José E. Feliciano and his wife, Kwanza Jones, for a valuation $3.9 billion. That amount shatters the previous MLB record set when Steve Cohen bought the Mets for $2.4 billion in 2020.
Feliciano is the co-founder and managing partner of Clearlake Capital, who acquired Chelsea FC in May 2022 for more than £4.25 billion. The results on the field have been mixed at best for the club since the acquisition. How he leads his new team will bear watching.
Under the watch of late owner Peter Seidler, the Padres have become one of MLB's most competitive teams. San Diego has reached the postseason in four of the last six years and have been in the top five in attendance in each of the past five seasons. During the 2025 campaign, Petco Park was sold out for 72 of the team's 81 home games.
Feliciano was among four principals bidding on the team. Warriors owner Joe Lacob showed early interest and was a finalist, while Pistons owner Tom Gores, and Everton owner Dan Friedkin also were involved in the final bidding.
The Padres have an exciting core built around stars Fernando Tatis Jr. and Manny Machado, and backed by names like Xander Bogaerts, Jackson Merrill and Mason Miller.
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This article was originally published on www.si.com as Padres Sold to Chelsea Owner José E. Feliciano MLB-Record $3.9 Billion.
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This story was originally published April 17, 2026 at 8:13 AM.