Padres strike deal to sell to investor group led by private equity billionaire, vows World Series championship

The New York Yankees have the 22nd-most optimistic fanbase in the MLB. Colin Cowherd asks if Yankees fans should be concerned or hopeful for the upcoming season.

The San Diego Padres are expected to come under new ownership soon.

On Saturday, the MLB franchise reached an agreement to sell a controlling interest in the team to an investor group led by Puerto Rican businessman José E. Feliciano and his wife, Kwanza Jones.

The family of late owner Peter Seidler, which makes up the Padres’ current ownership group, confirmed the deal. The decision to offload the team comes three years after Seidler’s death. John Seidler has served as the Padres’ chairman since his brother died.

The deal will not become official until it receives league approval. Last month, it was revealed that the Padres have a valuation of $3.9 billion. Although a sale price was not specified in the announcement, given the valuation, the transaction is expected to set a record for the highest price paid for an MLB franchise, surpassing Steve Cohen’s 2020 acquisition of the New York Mets for $2.42 billion.

CLICK HERE FOR MORE SPORTS COVERAGE ON FOXNEWS.COM

San Diego Padres' Manny Machado acknowledges the crowd after hitting a single, his 2000th career hit, against the Arizona Diamondbacks, July 7, 2025, in San Diego. (AP Photo/Orlando Ramirez)

Other members of the investor group were not named. In a joint statement, Jones and Feliciano called the Padres "a unifying force" in San Diego and committed to building on the franchise's foundation.

HERE'S WHAT THE SAN DIEGO PADRES RECORD $3.9 BILLION SALE MEANS FOR MAJOR LEAGUE BASEBALL

"The Padres are more than a baseball team; they are a unifying force in San Diego, rooted in community, connection and