The San Diego Padres Are Selling For A Record $3.9 Billion—Who's Buying The Team?

The San Diego Padres have existed since 1969 and have never won a World Series, only winning the NL pennant twice over the franchise's history. Yet that hasn't stopped the team's valuation from skyrocketing, alongside renewed interest in baseball as a sport. And now, the Padres are about to be sold for a record amount.

The team is nearing a deal with private-equity billionaire José E. Feliciano and his wife, Kwanza Jones. The deal values the Padres at about $3.9 billion. That shatters the previous record of $2.4 billion, the valuation of the New York Mets when Steve Cohen purchased them in 2020.

Feliciano and Jones's was the winning bid among several offers, including multiple that put the team's worth over $3.5 billion. One of those bids was from businessman Dan Friedkin and Golden State Warriors owner Joe Lacob.

Kwanza Jones and José E. Feliciano (Greg Doherty/Getty Images for SUPERCHARGED)

How Did José E. Feliciano Make His Money?

José E. Feliciano was born in Puerto Rico, but don't confuse him with the Puerto Rican singer José Feliciano. That's the artist behind "Feliz Navidad," one of the most popular Christmas songs of all time. While the royalty checks for that song are quite high, they don't quite reach what José E. Feliciano has achieved.

The businessman Feliciano worked at Goldman Sachs before founding Clearlake Capital with his managing partner Behdad Eghbali. Clearlake has grown over the past 20 years, primarily investing in tech, consumer, and industrial companies. It's now the 12th-largest private equity firm in the world, managing over $45 billion in capital.

Clearlake is also an investor in Chelsea Football Club. That purchase valued the club at more than $5 billion. By that metric alone, this purchase is a steal!

Feliciano's net worth is around $3.9 billion, a similar amount to what the team is being valued at.

Who Is Kwanza Jones?

Kwanza Jones, the wife of José E. Feliciano, also has an impressive background. She's a musician and the CEO of Supercharged, a media and personal development company.

Additionally, she co-founded the Kwanza Jones & José E. Feliciano Initiative. The investment and philanthropic platform has committed over $250 million to its four causes of education, entrepreneurship, equity, and empowerment.

Who's Selling The Padres?

Peter Seidler had owned the team from 2012 until his death in November 2023. Seidler, his uncle, Peter O'Malley, and Ron Fowler led the group that purchased the Padres.

Back then, the team was valued at $800 million. Seidler gained more control of the team, and the Padres went from one of the league's bottom-feeders into a more competitive franchise. The Padres have reached the playoffs in four of the past six seasons, including a trip to the NLCS in 2022.

Seidler's family assumed ownership of the team after Peter Seidler died. The family put the team up for sale in November 2025 and had been looking for buyers ever since.

Feliciano will have plenty of checks to sign. The Padres have multiple contracts worth at least a quarter of a billion dollars, including those of Manny Machado, Fernando Tatís Jr, and Xander Bogaerts.

If the team ultimately wins its first championship, the investment—steep as it is—will have been worthwhile.