The San Diego Padres’ long-running ownership dispute took a meaningful step toward resolution this week, bringing the franchise closer to a potential sale - though the finish line isn’t quite in sight just yet. The legal wrangling that’s hovered over the team since the passing of former owner Peter Seidler in late 2023 has started to ease, with key developments suggesting the Padres could soon enter a new era.
At the heart of the matter is a lawsuit filed by Peter Seidler’s widow, Sheel Seidler, against two of Peter’s brothers, Matt and Bob Seidler. That lawsuit, which has cast a shadow over the franchise for more than a year, saw significant movement this week. Sheel dropped many of her claims, and while not all issues are resolved - notably those involving trust distributions and a demand for accounting - the two sides have reached agreement on a number of fronts.
Let’s rewind to how we got here. After Peter Seidler’s death in November 2023, his stake in the Padres was placed in a trust.
Eric Kutsenda, a longtime business associate of Peter’s, was tapped as the club’s interim control person - the individual designated by MLB to represent the team in league matters. While ownership groups often include multiple stakeholders, MLB requires a single control person for governance purposes.
By December 2024, it was expected that Peter’s brother John Seidler would be named the permanent control person. Meanwhile, Matt and Bob Seidler remained involved in the trust.
But in January 2025, Sheel filed a lawsuit challenging that setup, arguing that Peter had intended for control of the team to eventually pass to his children, with her guiding the franchise in the interim. Her suit accused Matt and Bob of acting in bad faith - including allegedly selling themselves assets below market value - and claimed their ultimate goal was to take control of the Padres and sell the team.
Matt Seidler responded with a different version of events, stating that Peter had never named Sheel as a trustee despite amending his trust multiple times, and asserting that many transactions had actually been made to her benefit.
MLB ultimately approved John Seidler as the club’s control person in February 2025. That November, the Padres publicly announced they were exploring a sale of the franchise - even though the legal dispute hadn’t yet been resolved. This week’s developments mark the first real signs of progress toward clearing the legal hurdles that have stood in the way of a sale.
That said, don’t expect a deal to close immediately. According to reporting, a full resolution of the legal situation is likely a prerequisite for any sale to go through.
That’s not without precedent. The Baltimore Orioles went through a similar process following the death of longtime owner Peter Angelos.
His family’s legal disputes were settled in early 2023, and later that year, billionaire David Rubenstein stepped in to buy the team.
As for who might be in line to buy the Padres? Several high-profile names have surfaced.
Jose E. Feliciano is one.
His firm, Clearlake Capital, was part of the BlueCo group that purchased English Premier League club Chelsea in 2022 for around $3 billion. Feliciano’s estimated net worth is $3.9 billion, and Clearlake reportedly manages about $90 billion in assets.
Notably, Mark Walter - the Dodgers’ control person and CEO of Guggenheim Partners - was also part of the Chelsea deal.
Dan Friedkin is another serious contender. Friedkin owns Premier League side Everton (purchased in 2024) and Serie A’s Roma, and his net worth is estimated at just under $9.9 billion. He also has a local connection - he was born in San Diego in 1965.
Joe Lacob, owner of the NBA’s Golden State Warriors and WNBA’s Golden State Valkyries, is also reportedly interested. Lacob has been linked to other MLB teams in the past, including the A’s and Angels, and his net worth is pegged at $2.3 billion.
So what’s the price tag? That’s where things get interesting.
Forbes currently values the Padres at $1.95 billion, while Sportico estimates the franchise at $2.3 billion. But reports suggest the Padres will be seeking significantly more - possibly in the $2.5 to $3 billion range.
If they get anywhere near that number, it would set a new record for an MLB franchise sale. The current record is the $2.4 billion Steve Cohen paid for the Mets.
A sale could also bring much-needed clarity to the franchise’s financial future - and that’s something Padres fans have been watching closely. After peaking at a $249 million payroll in 2023, the club has since scaled back.
That shift has already affected roster decisions. Juan Soto, in the final year of his contract, was traded to the Yankees in a move that brought back younger, cheaper talent.
The Padres also signed Nick Pivetta to a four-year, $44 million deal last year - but structured it so that he only earned $4 million in the first season. Now, with the more expensive years of his contract kicking in, Pivetta has surfaced in trade rumors this winter.
Leading those baseball decisions is A.J. Preller, the team’s president of baseball operations since 2014.
Preller has overseen a stretch of competitive baseball in San Diego, but his future is uncertain. He’s entering the final year of his contract, and despite some talk of a possible extension, no deal has materialized.
That leaves him in a classic lame-duck position heading into 2026 - and with new ownership potentially on the horizon, it’s unclear what direction the club might take.
For now, Padres fans are left waiting - not just for spring training, but for resolution in the boardroom. The next chapter of this franchise is taking shape, and while the legal dust hasn’t fully settled, the pieces are starting to move.