"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. This process is moving very quickly, one source said."
"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 billion paid for the Met."
The Seidler family is moving forward with selling the San Diego Padres after exploring the option following chairman Peter Seidler's death in November 2023. Five strong bids have been submitted by prospective buyers, with multiple bidders advancing to the next vetting round. The sale process is moving quickly, with completion expected within the first month of the season or by end of March. Known bidders include Jose E. Feliciano of ClearLake Capital and Chelsea owner, Dan Friedkin of Roma and Everton, Joe Lacob of the Golden State Warriors, and Joe Kudla of Vuori partnered with Drew Brees. The Padres are expected to sell for over $2.5 billion, breaking the previous MLB record.
Read at www.sandiegouniontribune.com
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