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Moorad takes 50 percent stake in Padres

Mar 25, 2010, 1:17 AM EDT

According to the Associated Press, former player agent and Arizona Diamondbacks CEO Jeff Moorad has become essentially a 50-percent partner in owning the San Diego Padres.

Moorad made a $45 million wire transfer (what, no PayPal?) to John Moores today to give his ownership group a 50 percent stake. Moorad, who has been Padres CEO and a minority owner for the past year, will also hold a 30 percent stake in ownership of Petco Park.

I’m not sure what impact this will have on the Padres’ financial situation, but while people are handing out $45 million wire transfers, it might make sense for someone to find out Adrian Gonzalez’s bank account number and send a couple his way.

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  1. hiatus - Mar 25, 2010 at 5:26 AM

    hai~

  2. ken buddha - Mar 25, 2010 at 10:41 AM

    Isn’t Moorad a minority partner in the Diamondbacks as well? Isn’t there a rule in MLB that no one can own two teams? I thought it goes back to the days when an owner would trade all of his good players to one of his teams. Not likely but even a minority stake could be a conflict of interest.

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