San Diego Padres Sale Is Nearing $4 Billion As Second Round Of Bids Begin

The San Diego Padres are in the middle of a sale, and all bidders have been asked to complete their second rounds of bidding, submitting new offers that include at least three bids of $3.5 billion or more. According to two people, one of the bids is approaching $4 billion.

There are four finalists in the midst of a bidding war for the Padres franchise, including José E. Feliciano and his wife, Kwanza Jones; Dan Friedkin; and Joe Lacob and Tom Gores.

Feliciano is the co-founder of the investment firm Clearlake Capital and has a net worth of $4.4 billion as of April 2025.

Friedkin is the chairman and CEO of The Friedkin Group, and his Pursuit Sports owns the soccer clubs Everton and AS Roma.

Lacob is an American business executive who was a partner at Kleiner Perkins and is currently the co-owner of the Golden State Warriors and Golden State Valkyries.

Gore is the owner of the Detroit Pistons and also owns a 27% stake in the Los Angeles Chargers, which he purchased in 2024.

The Padres are valued at $3.1 billion according to Sportico’s most recent MLB valuations. That is up 34% from last year, and it seems as if the bidding will surpass that number.

When the sale is finalized, it will be the largest sale of an MLB franchise in history, surpassing Steve Cohen’s $2.42 billion purchase of the New York Mets in 2020.