"Feliciano and Jones will purchase a 30-40% ownership share. That'd put their investment between $1.17 billion and $1.56 billion. Their exact stake has yet to be determined as they bring aboard additional minority investors."
"The most important detail remains unchanged. Feliciano will become the organization's control person. That's true even though he'll own less than 50% of the team, as he'll hold the plurality share."
"Once the details on the minority investors are sorted out, they'll need formal approval from at least three-quarters of other ownership groups. That's essentially a formality."
The Seidler family is close to selling the Padres to José E. Feliciano and Kwanza Jones, with a valuation of $3.9 billion. Feliciano and Jones will acquire a 30-40% ownership share, investing between $1.17 billion and $1.56 billion. Some Seidler family members and current minority investors will retain shares. Feliciano will be the control person despite owning less than 50%. The sale requires approval from three-quarters of other ownership groups, with a quarterly owners meeting scheduled for June.
Read at MLB Trade Rumors
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