UPDATE IN POST BELOW

Seidler Family Weighing Five Offers For Padres - MLB Trade Rumors

Kevin Acee of The San Diego Union-Tribune reports that five prospective buyers have submitted bids. Previous reporting had identified Joe Lacob, José E. Feliciano and Dan Friedkin as suitors.

Earlier this month, Sportico estimated the franchise value around $2.31 billion. It seems the Seidler family is aiming a fair bit higher. Acee writes that people within the industry anticipate the sale price will land north of $2.5 billion. Rosenthal and Lin report that the Seidlers are seeking a purchase price closer to $3 billion than to the estimation from Sportico.

Anything north of $2.5 billion would be a record for an MLB franchise. Steve Cohen’s 2020 purchase of the Mets from the Wilpon family was for roughly $2.475 billion. That remains the high-water mark. More recent sales of the Orioles and Rays have landed in the $1.7 billion range. Peter Seidler’s group purchased the Padres for $800MM in 2012. The reports from the Union-Tribune and The Athletic — each of which are worth a full read for San Diego fans — suggest an agreement could be reached around Opening Day.

Edited April 17Apr 17 by rmc523

The Seidler family is nearing a deal to sell the Padres to a group led by private equity billionaire José E. Feliciano and his wife Kwanza Jones, per Jared Diamond and Miriam Gottfried of the Wall Street Journal. The deal values the Padres franchise at close to $3.9 billion, which would shatter the previous record for a big league franchise in a sale. Steve Cohen’s $2.4 billion purchase of the Mets in 2020 currently stands as the record.

Dennis Lin of The Athletic reported yesterday that the sale process was nearing its conclusion, suggesting that the Seidlers could find a price upwards of $3.5 billion. Per the Wall Street Journal duo, San Diego received multiple bids valuing the franchise at more than $3.5 billion. In addition to Feliciano’s group, the three finalist bidders were groups led by Golden State Warriors owner Joe Lacob, Detroit Pistons owner Tom Gores, and Dan Friedkin, who owns the English Premier League’s Everton club.

Seidler Family Nearing Deal To Sell Padres To José E. Feliciano - MLB Trade Rumors