Apr 9, 2012, 2:03 PM EDT
After his long-gestating sale of the Padres to Jeff Moorad went south, John Moores is trying again:
Padres majority owner John Moores has retained investment banker Steve Greenberg to broker a sale of the club, according to a Los Angeles Times report on Saturday … Moores previously sold the Padres in January 2009 for $525 million to Moorad, who had three to five years to complete the purchase.
Given the explosion in local TV rights revenues — the Padres are just now closing a 20-year, $1 billion TV deal — that delay in the sale probably made Moores $250 million more on the sale of the team than if the Moorad deal had been consummated.
Almost makes one wonder if the failure to approve Moorad was about his financing or if, rather, it was early-seller’s remorse.
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