The San Diego Padres are expected to be up for sale.
The somewhat shocking news was released on Thursday morning, when the Seidler family announced it is starting the process of looking for a potential new ownership group. They’ve even gone so far as to bring on BDT & MSD Partners, a group specializing in these types of transactions, to guide the process. Padres controlling partner John Seidler issued a statement about their decision:
“To our Faithful Fans, I want to share with you that the family has decided to begin a process of evaluating our future with the Padres, including a potential sale of the franchise. We will undertake this process with integrity and professionalism in a way that honors Peter’s legacy and love for the Padres and lays the foundation for the franchise’s long-term success. During the process and as we prepare for the 2026 season, the Padres will continue to focus on putting every resource into winning a World Series championship.
We remain fully committed to you, this team, and the San Diego community.We’re also committed to finding a new steward for the franchise who shares Peter’s vision: continue to field a consistently competitive team and win a World Series championship for San Diego. We have every expectation that the new owner will build on the momentum we have built together and operate the franchise and ballpark in a first-class manner, the way our current leadership team does.
I want to thank you for your faithful support of the Padres. We are fortunate and grateful to have such amazing fans.”
In 2012, Peter Seidler was part of a group that purchased the Padres organization, that was fronted by Ron Fowler. In 2020, Peter rose to managing partner and, until his passing in 2023, turned what was long considered a “small market” team into a club that competes at the highest level. Seidler raised payroll to never-before-seen heights and led the team to its longest sustained run of success.
With that commitment, the Padres fan base responded by packing Petco Park every night, setting multiple attendance records and finishing in the top five in MLB in annual attendance. Before his passing, Peter said he wanted to have the team in the Seidler family’s hands for generations to come.
A Padres spokesperson told NBC 7 that the club does not want to comment further but says it’s a very safe assumption/assurance that there would be a provision in the sale that prohibits a new owner from relocating the team. The club also has a lease with Petco Park that runs through 2033 that would be prohibitive in any kind of move.
The last Major League Baseball team sale was completed in 2020 when Steve Cohen bought the New York Mets for $2.4 billion, a record for a baseball club. A 2025 CNBC analysis of MLB team values estimated the Padres to be worth $2.1 billion and would certainly not sell for less than that.
The timing of this announcement is a bit curious. MLB free agency started a week ago and, historically, players have had trepidations about teams with ownership instability. Industry experts also expect a lockout to come after the 2026 season as a new collective bargaining agreement is negotiated. That process is expected to have an impact on baseball’s financial landscape and could prompt any potential buyers to wait until they know exactly what kind of situation they’re buying into.
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