$2bn Major League Baseball team San Diego Padres ‘up for sale’: Billionaire owners ‘exploring’ exit options
The owners of the San Diego Padres are considering options to sell the team.
In a press release on Thursday morning, the Seidler family announced they have begun ‘a formal process to explore strategic options for the San Diego Padres, including a potential sale of the franchise.’
This comes two years after Peter Seidler, the family’s patriarch and team owner, passed away in 2023.
Since his death, his family has owned the team. Team chairman John Seidler said, ‘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.’
John continued: ‘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.’
The family has hired BDT & MSD Partners to oversee the process.
San Diego Padres team chairman John Seidler says his family are exploring options to sell
The announcement comes two years after the death of the original owner, Peter Seidler
Since Peter’s initial $800million purchase in 2012, the Padres have ballooned in value. According to CNBC, the team is valued at $2.1billion – good for 16th in Major League Baseball.
After missing the playoffs the first eight seasons of the Seidler’s ownership, the Padres have made the postseason four of the last six campaigns.
Among those appearances was a trip to the 2022 NLCS – their first pennant-fight since 1998.
This past season, the Padres went 90-72, but lost two-games-to-one to the Chicago Cubs in the NL Wild Card.
In 2025, the Padres had the ninth-highest Opening Day payroll in Major League Baseball – spending $208.9million on their roster.
Among the free agents the Padres could lose include second baseman Luis Arraez, starting pitchers Dylan Cease, Michael King, and Nestor Cortes, relievers Robert Suarez and Kyle Hart, shortstop Tyler Wade and third baseman Jose Iglesias.
The family’s announcement of this move should not be taken as a sign the team will be put on the market.
In fact, two teams in the past year have expressed such a move, only to retract it.
The Padres have ballooned in value: rising from an $800m purchase in 2012 to a $2b valuation
In January 2023, Los Angeles Angels owner Arte Moreno backed down from selling his team based in Anaheim.
This August, the Pohlad family announced they would no longer explore the possibility of selling the Minnesota Twins.
That said, two teams have changed hands within the past two years.
In 2024, a consortium led by investment banker David Rubenstein purchased the Baltimore Orioles for $1.725billion.
Earlier this year, real estate developer Patrick Zalupski spent $1.7billion to buy the Tampa Bay Rays.
