Aug 6, 2012, 11:21 PM EDT
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.
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