The Major League Baseball franchise San Diego Padres has been sold for $3.9 billion, setting a new record valuation for the league and underscoring the continued surge in North American sports franchise prices.
The buyer group is led by José E. Feliciano and Kwanza Jones, who outbid multiple high-profile contenders in a competitive sales process that drew offers exceeding $3.5 billion.
The deal surpasses the previous MLB record set in 2020, when Steve Cohen acquired the New York Mets for $2.42 billion, highlighting the sharp escalation in franchise valuations over the past five years.
The transaction was managed by BDT & MSD, which was appointed in late 2025 to explore a potential sale. Among the final bidders were Dan Friedkin, Joe Lacob—co-owner of the Golden State Warriors—and Tom Gores, owner of the Detroit Pistons.
Feliciano, co-founder of Clearlake Capital, brings significant sports investment experience, having previously been involved in the financing of Chelsea FC’s $3.16 billion acquisition in 2022. He has also explored minority stakes in NFL franchises including the Los Angeles Chargers and Denver Broncos.
The Padres sale follows a complex ownership situation triggered by the death of former owner Peter Seidler in 2023, which led to internal legal disputes among family members over control of the franchise’s holding trust.
Originally purchased in 2012 for $800 million, the Padres’ latest valuation reflects both the growth of MLB economics and the increasing role of private equity in global sports ownership structures.