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Padres sale done pending league approval

Aug 6, 2012, 11:21 PM EDT

padres logo new

Sure, it’s only 40 percent of what the Dodgers sold for, but $800 million isn’t bad.

The Padres sale to Peter O’Malley’s group was completed Monday, pending league approval that could come during the Aug. 16 owners meetings.

O’Malley is settling for the Padres after coming up short in his attempt to re-buy the Dodgers earlier this year. Among his investors is golfer Phil Mickelson, but it’s expected to be primarily a family-run team by Peter, his sons Kevin and Brian O’Malley and his nephews Peter and Tom Seidley.

Approval of the sale figures to go down without a hitch, as commissioner Bud Selig¬†publicly¬†endorsed the bid last month. Of course, the Padres’ first sale to agent Jeff Moorad didn’t go so smoothly. It proved to be a boon for current owner John Moores, though, as the new sale price is much higher than the previous $500 million figure.

  1. theawesomersfranchise - Aug 6, 2012 at 11:29 PM

    Re-read what you posted Matt

  2. micker716 - Aug 7, 2012 at 12:06 AM

    The O’Malley’s and Lefty owning the Pad’s. Good one. Next you’ll be telling me that Hank Steinbrenner and Tiger Woods are going to buy the Red Sox. The O’Malley’s are the Dodgers, they are the personification of Evil. As a Padres fan, I guess you could call me skeptical.

  3. icanspeel - Aug 7, 2012 at 12:34 AM

    Padres fans can re-gain hope with a new ownership. They won’t break the bank, but at this point Padres fans just want to see a committed owner.

  4. gloccamorra - Aug 7, 2012 at 12:47 AM

    Actually, Ron Fowler will be the principal owner. He was part of the Moorad group, and it remains to be seen how many others in that group are part of it too. It may be that even Moorad still has a stake, and the O’Malley group just replaced Moores, but with less than half ownership. All it would have taken was an additional 1% for them to take over, but not with Moorad running the show. Now we have to see if they have enough money to get the payroll up from 29th.

  5. xpensivewinos - Aug 7, 2012 at 1:27 AM

    If they don’t flush out the garbage in the front office, it makes no difference who owns the team……

    • icanspeel - Aug 7, 2012 at 10:22 AM

      And what garbage is there in the front office? CEO Tom Garfinkle and GM Josh Byrnes have been running the team lately and have done a pretty good job. They haven’t even been there long enough to take any blame from the previous bad choices.

      Their record may not show it now, but the team has come a long way in the last few months.

  6. kiwannabee - Aug 7, 2012 at 2:38 AM

    The number one thing the new ownership group could do to make themselves welcome in San Diego (other than a World Series championship) would be a change in the uniforms. Let’s go PERMANENTLY back to brown uniforms and erase a mistake that’s been going on for 20 years.

    If Tom Garfinkel doesn’t like it, kick him to the curb and bring in somebody who wants this team to have its own brand and its own unique identity.

  7. oside760 - Aug 7, 2012 at 1:55 PM

    new owners. same loser ass team

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