Jones and Feliciano are expected to hold roughly a 40% equity stake, with the Seidler family retaining a portion of the club.

Upon approval, the new owners plan to deepen community investment and fan engagement while building on the Padres’ recent on-field success.

Feliciano brings extensive sports ownership experience from Chelsea F.C.’s ownership group, signaling a strong background in elite sports investors.

Feliciano would become one of the first Latino owners in MLB, following Arte Moreno of the Los Angeles Angels.

The sale represents a new chapter with a commitment to maintain community ties and secure the franchise’s competitive future in MLB.

MLB approval is required, with a formal vote expected at the owners meetings in June; approval typically requires a majority of the 29 owners.

Peter Seidler owned the team since 2020 with his brother John serving as chairman; the family began exploring a sale after Peter Seidler’s death.

The Seidler family has agreed to sell the San Diego Padres to a group led by Kwanza Jones and José E. Feliciano for about $3.9 billion, pending MLB approval.

The buyer group includes other investors like Alfredo Harp Helu and the Sycuan Band of the Kumeyaay Nation, with the Sycuan stake potentially drawing regulatory scrutiny.

The sale is contingent on MLB approval, and specific purchase price and buyer details were not disclosed in the announcement.

The Padres have been financially and competitively strong, ranking high in attendance and playoff appearances, with a current 19-12 record heading into a home game against the White Sox.

Regulatory steps include potential review by the SEC and local sign-off for including 30% of Petco Park in the deal.