Seidler Family Considers Five Offers for Padres Sale
The Seidler family is intensifying its efforts to sell the San Diego Padres. Following recent legal developments, the family has received five bids from prospective buyers. This uptick in activity comes in the wake of actions taken by Sheel Seidler, who recently settled most litigation against her late husband Peter Seidler’s brothers.
Prospective Buyers for the Padres
Reports indicate several notable figures are interested in purchasing the franchise. The list of potential buyers includes:
- Joe Lacob: Owner of the NBA’s Golden State Warriors, previously showed interest in buying the Angels and Athletics.
- José E. Feliciano: A Santa Monica-based private equity mogul and lead owner of Chelsea F.C.
- Dan Friedkin: A San Diego native with various business interests, and current owner of Everton F.C.
- Drew Brees and Joe Kudla: The Hall of Fame quarterback has partnered with the CEO of Vuori, a local clothing company, to submit a bid.
The interest from Brees is particularly notable. He spent the initial years of his NFL career with the San Diego Chargers, bringing local clout to his bid.
Franchise Valuation and Sale Price Expectations
The reported valuation for the Padres is around $2.31 billion. However, industry experts predict that the actual sale price could exceed $2.5 billion. Sources indicate the Seidler family is targeting a price closer to $3 billion.
- Peter Seidler’s group bought the Padres in 2012 for $800 million.
- The record sale for an MLB franchise is $2.475 billion, achieved by Steve Cohen’s purchase of the Mets in 2020.
- Recent sales for the Orioles and Rays were around $1.7 billion.
As the Padres’ sale process progresses, a deal could potentially be reached by Opening Day, offering clarity to fans and stakeholders alike. The ongoing interests and bids reflect the increasing value of Major League Baseball franchises.
