The San Diego Padres are making headlines as the Seidler family ramps up efforts to sell the team. The process gained momentum recently when Sheel Seidler, widow of former owner Peter Seidler, resolved most of her legal disputes with Peter’s brothers. This cleared the way for the sale, which kicked off back in November.
According to Kevin Acee of The San Diego Union-Tribune, five potential buyers have already submitted bids. Among the interested parties are some big names: Joe Lacob, José E. Feliciano, and Dan Friedkin.
Lacob, known for owning the NBA’s Golden State Warriors, has previously shown interest in MLB teams like the Angels and Athletics. Feliciano, a private equity powerhouse from Santa Monica, is part-owner of Chelsea F.C. in the English Premier League. Friedkin, originally from San Diego but now based in Texas, owns Everton F.C. and has a variety of business interests.
But perhaps the most intriguing potential buyer for American sports fans is a duo featuring Hall of Fame quarterback Drew Brees. Teaming up with Vuori CEO Joe Kudla, Brees is making a bid for the Padres.
Vuori, a San Diego-based company, specializes in athleisure wear. Brees, of course, started his NFL career with the Chargers, adding an interesting twist to his potential return to the city.
With Lacob, Feliciano, Friedkin, and the Kudla/Brees group in the mix, that accounts for four of the five bids. The identity of the final bidder remains a mystery.
Sportico recently valued the Padres at around $2.31 billion, but the Seidler family is reportedly aiming higher. Industry insiders suggest the sale price could exceed $2.5 billion, with hopes closer to $3 billion.
If the sale surpasses $2.5 billion, it would set a new record for an MLB franchise, eclipsing Steve Cohen’s $2.475 billion purchase of the Mets in 2020. Recent sales of teams like the Orioles and Rays have hovered around $1.7 billion.
Peter Seidler’s group originally bought the Padres for $800 million back in 2012. With Opening Day approaching, fans are eagerly watching for a potential agreement to be finalized soon.