Who might take over the ownership of the Padres?
The recent announcement by the Seidler family about their intention to explore the sale of the San Diego Padres has ignited a flurry of speculation online regarding potential future owners. However, it’s important for Padres enthusiasts to temper their expectations regarding any public disputes among bidders. Given the current challenges facing the team, including legal issues and family matters, it is likely that this process will unfold quietly behind closed doors, away from the public eye.
Fans may find themselves in suspense for several months, possibly extending beyond a year, before a clear picture of the new ownership emerges. While the certainty of a sale looms large, there’s much to discuss regarding who might step forward as potential buyers and what we can anticipate from them.
MLB Commissioner Rob Manfred made it clear during the Winter Meetings held in Orlando, Florida, that the sale is virtually inevitable. He emphasized the appeal of the franchise, stating, "It’s a really appealing franchise. They’ve done a great job building a fan base. The in-ballpark experience in San Diego is probably one of our best. They’ve got some great players, and I expect there will be people that will be interested in buying." These remarks provide reassurance to fans concerned about the possibility of the team being relocated; with Petco Park drawing the second highest attendance in Major League Baseball, the likelihood of the team moving is extremely low.
With that context, let’s delve into the names that have emerged as potential candidates for purchasing the team and what implications their ownership could have.
In recent years, other franchises like the Washington Nationals, Minnesota Twins, and Los Angeles Angels have also been listed for sale but were subsequently withdrawn from the market without a transaction. For perspective, the Seidlers acquired the Padres for $800 million in 2012, and Forbes recently appraised the team's value at approximately $1.95 billion.
While it’s difficult to predict exactly who might express interest in acquiring the Padres, a few prominent names have already surfaced.
Joe Lacob
On December 2, the San Francisco Chronicle published an article suggesting that Joe Lacob could be considering a bid for the Padres. This speculation quickly gained traction, attracting attention from both local and national media outlets, including NBC7 San Diego, which reported on the development.
Lacob, a seasoned NBA owner, purchased the Golden State Warriors in 2010 and has since led the team to four championships over the span of 15 years. Additionally, he was part of the ownership group for the Boston Celtics in 2008 when they secured the NBA title.
At 69 years old, Lacob has demonstrated his interest in owning a Major League Baseball team previously, having attempted to buy the Oakland A’s two decades ago and then again in 2023, as well as showing interest in the Los Angeles Angels in 2022. His efforts to keep the A’s in Oakland were ultimately unsuccessful.
With a net worth of approximately $2.3 billion according to Forbes, acquiring the Padres could represent a homecoming for Lacob, who hails from Anaheim. As a young fan of the Angels, Lacob lived only a mile from Angel Stadium and even worked there as a peanut vendor for seven years.
Moreover, Lacob is also the owner of the Golden State Valkyries, a WNBA franchise based in the Bay Area. It’s noteworthy that his business partner in the Warriors, Peter Guber, is also connected to the ownership of the Los Angeles Dodgers, which would preclude him from being involved in a bid for the Padres.
Lacob made his wealth through venture capitalism, initially joining the investment group Kleiner Perkins in 1987 and later founding his own firm, Shapira Capital.
In a podcast interview from 2022, Lacob expressed his singular focus as an owner: "I’m about only one thing for the rest of my life, and that’s winning and winning championships. I’m maniacal; it’s all I care about. That’s it." His passion for sports ownership was further highlighted in a November 10 article in the San Francisco Standard, where he reflected on the joy of owning the Warriors and emphasized the excitement he finds in the world of sports, stating, "I want to do other fun stuff. And fun stuff to me is the world of sports. It’s live entertainment. It’s employing people. It’s creating dreams and making dreams come true."
Such sentiments suggest that Lacob could very well align with the aspirations of Padres fans. The reality is that the Seidler family appears unable to fulfill Peter Seidler's vision for the Padres and the San Diego community, making someone like Lacob a potentially transformative figure for the franchise.
In the upcoming second part of this discussion, we will explore additional names rumored to be in the running to purchase this iconic organization.
