The San Diego Padres are expected to set a record for the sale price of MLB franchise when the team changes hands.
On Tuesday, Kevin Acee of the San Diego Union-Tribune reported that five bids have been submitted to the current ownership group by prospective buyers. In November, the Seidler family announced its intention to explore a sale. Based on reporting, they will see a windfall.
The team is expected to sell for more than $2.5 billion, which would be an MLB record, but the price could soar as high as $3 billion. The previous high was the $2.4 billion Steve Cohen paid to buy the New York Mets back in 2020. Peter Seidler and Ron Fowler led the group that purchased the Padres in 2012 for $600 million.
Golden State Warriors owner Joe Lacob is one of the bidders, while investment firm owner José E. Feliciano and clothing brand founder Joe Kudla are known to be involved. Dan Friedkin has not been confirmed as a bidder, but was involved earlier in the sale process.
Lacob owns the Warriors and the Golden State Valkyrie, and has looked into buying an MLB team before.
Feliciano is the co-founder of Clearlake Capital, which owns Premier League club Chelsea.
Friedkin is a San Diego native who is the CEO of The Friedkin Group, a privately-held group of businesses. He owns Premier League club Everton, and Serie A club AS Roma.
Kudla is the founder of athleisure brand Vuori, which is based in Carlsbad, California, roughly 35 miles from Petco Park. He has reportedly partnered with Pro Football Hall of Famer Drew Brees on a bid for the team.
Multiple bidders are expected to advance to the next round in the fast-moving process. There is optimism that the sale could be completed by Opening Day.
Previously a perennial National League doormat, the Padres were transformed under late owner Peter Seidler’s leadership. San Diego missed the postseason for 13 consecutive seasons before the 2020 campaign, and now has reached the playoffs in four of the last six seasons.
That success on the field has led Petco Park to be packed on a regular basis. The Padres have finished in the top five in attendance in each of the last five seasons, and were second in 2025 behind the Dodgers. A record 3,437,201 fans entered the park last season, and the team sold out 72 of its 81 home games.
Whoever buys the franchise will inherit an engaged fan base and one of the best stadiums in baseball.
While the Padres’ salary table is littered with some big contracts, the roster also has identifiable stars that have helped build the brand. Players like Manny Machado, Fernando Tatis Jr., Xander Bogaerts and Jackson Merrill are all locked up long term. General manager A.J. Preller also recently inked a new contract extension. Having those pieces in place will provide stability as the team transitions to new ownership.
