The San Diego Padres are on the verge of a sale to a group led by billionaire investor José E. Feliciano and his wife Kwanza Jones in a deal valued at approximately $3.9 billion, according to reports.
The transaction, if completed, would mark the highest price ever paid for a Major League Baseball franchise, surpassing the $2.42 billion paid by Steve Cohen for the New York Mets in 2020.
The deal still requires approval from at least 75% of MLB's 30 owners.
Feliciano, co-founder of private equity firm Clearlake Capital, has an estimated net worth of $3.9 billion, according to Forbes.
His firm holds a controlling stake in Chelsea FC as part of a consortium that includes Todd Boehly and Mark Walter.
Publicly available information on Jones's individual net worth is limited, and no widely cited estimate has been confirmed by major financial trackers.
The Padres sale drew interest from several prominent investors, including Dan Friedkin, Tom Gores, and Joe Lacob.
The sale process follows an internal dispute within the Seidler family after the death of former chairman Peter Seidler in 2023.
No official timeline for final approval of the Padres sale has been disclosed.
