The Seidler family, who have owned the Padres since 2012, will be exploring a potential sale of the franchise, they announced on Thursday.
Peter Seidler purchased the San Diego franchise in 2012 for $800 million. He acted as chairman for the Padres from that point until his death in November 2023. His brother John took over in his stead and oversaw the last two seasons for San Diego, in which the team made the postseason twice and won one playoff series.
This year the Padres went 90-72 but bowed out in the wild card round to the Cubs. Manager Mike Shildt announced his intention to retire shortly after their elimination. Now the organization might undergo even more significant changes with a possible sale on the horizon.
“The family has decided to begin a process of evaluating our future with the Padres, including a potential sale of the franchise,” Chairman John Seidler said in an announcement. “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 its players, employees, fans, and community while putting every resource into winning a World Series championship. We remain fully committed to this team, its fans, and the San Diego community.”
The Seidlers will engage with BDT & MSD Partners in an effort to explore the sale.
The price tag for the Padres will be hefty should the Seidlers sell. The most recent MLB franchise to be sold, the Rays in September, went for $1.7 billion. San Diego figures to go for a higher number than that, and potentially higher. The Rays were in the middle of figuring out a new stadium situation when they got sold; the Padres don’t have such questions, with Petco Park widely recognized as one of MLB’s better venues.
Furthermore, the Padres have found much more on-field success than Tampa Bay in recent seasons, qualifying for the playoffs in four of the last six seasons with an NLCS appearance to boot. The roster boasts multiple big names and even bigger salaries. There’s a built-in diehard fan base in San Diego. There’s a lot to like about the Padres for any potential buyer.
As this is only the beginning stages of a possible sale it will be a while before any notable movement occurs. Potentially years. But the first step has been taken—the Padres may be under new ownership for the first time in nearly 15 years.
