Warriors owner among five potential buyers bid on Padres as club's sale reaches next stage

"Five "very strong" bids have been submitted by prospective buyers, according to a source who spoke on the condition of anonymity because they were not authorized to discuss the matter publicly. That source and one other person familiar with the process said multiple bidders will move on to the next round of vetting in the sale process."

"The team will likely change hands within the first month or so of the season, and it is conceivable a sale could be completed by the end of March, according to people familiar with the process. Opening day is March 26."

"Feliciano, a native of Puerto Rico and founding partner of ClearLake Capital, which has its headquarters in Santa Monica, is the principal owner of the Premier League soccer club Chelsea. Friedkin, who was born in San Diego and lives in Texas, is the principal stakeholder in Serie A club Roma and Everton of the Premier League."

"People familiar with the valuations of MLB franchises that have sold recently estimate the Padres will fetch a price north of $2.5 billion. That would break the record $2.4"

The Seidler family is actively pursuing a sale of the San Diego Padres with five strong bids received from prospective buyers. Multiple bidders will advance to the next vetting round. The sale is expected to close within the first month of the season, potentially by the end of March. Public suitors include Jose E. Feliciano of ClearLake Capital and Chelsea FC, Dan Friedkin of Roma and Everton, and Joe Lacob of the Golden State Warriors. Drew Brees and Joe Kudla lead another bidding group. The Padres are estimated to sell for over $2.5 billion, breaking recent MLB franchise sale records.

Read at The Mercury News