San Diego Padres could sell for more than $3.5 billion, potentially setting a new MLB record, with Detroit Pistons owner Tom Gores joining three other wealthy bidders, sources tell The Athletic. Gores, whose net worth Forbes estimates at $10.1 billion, is competing alongside José E. Feliciano, Dan Friedkin, and Joe Lacob.
A final round of bids is expected by mid-April, with a deal possible before month’s end. If the Padres fetch over $3 billion, the sale could influence upcoming MLB labor negotiations, highlighting rising franchise values even without a salary cap.
The Padres’ value has grown significantly—from $1.8 billion in 2024 to $3.1 billion this year—reflecting the team’s market, revenue growth, and limited California-based clubs available for sale. Gores, owner of the Pistons and part-owner of the Los Angeles Chargers, has strong sports industry experience, including connections through Trajan Langdon, a former Padres draft pick and Pistons executive.
A record-setting sale would surpass Steve Cohen’s 2020 purchase of the New York Mets for $2.42 billion and could have wide-reaching effects on team valuations, media deals, and competitive structures across MLB.