The San Diego Padres are close to a historic sale. Private-equity investor José E. Feliciano and his wife, Kwanza Jones, are nearing an agreement to purchase the franchise.
This deal would set a new record for a Major League Baseball team sale. The reported price is approximately $3.9 billion.
That figure shatters the previous high mark. It is nearly $1.5 billion more than the price paid for the New York Mets in 2020.
Steve Cohen acquired the Mets for about $2.4 billion. That transaction was the prior benchmark for an MLB club.
The potential sale underscores the soaring valuations in professional sports. Franchise values continue to climb dramatically.
Feliciano is a co-founder of the investment firm Clearlake Capital. He and Jones, a singer and investor, would become the new controlling owners.
Major League Baseball owners must still approve the transaction. A final agreement could be announced in the coming weeks.
