Major League Baseball and its owners have unanimously approved the sale of the San Diego Padres to an ownership group led by investors Jose E. Feliciano and Kwanza Jones, the league said on Monday.
The approval remains contingent upon the closing of the transaction, which is expected in the weeks ahead, MLB said in a statement.
The Padres announced in May that they had entered into a definitive agreement to transfer control of the franchise to a new ownership group led by Feliciano and his wife Jones, who reportedly placed a winning bid to purchase the team for an MLB record $3.9 billion.
Feliciano, the founder of Clearlake Capital and part owner of English soccer team Chelsea, has been designated as the Padres' control person.
"We are grateful to the Seidler family, and especially to Peter, for raising the expectations of what this franchise can achieve. We have built our life and our work together, and we will bring that same shared purpose, commitment, and determination to our stewardship of the Padres," Feliciano and Jones said in a statement.
"Our ambition is clear: to bring a World Series championship to San Diego and build an enduring organization capable of competing for championships year after year. We intend to be engaged owners, bringing our energy, experience, and perspective while working alongside the talented team already in place and investing ambitiously and thoughtfully in the Padres' future."
The Padres will continue to be led day-to-day by chief executive officer Erik Greupner and president of baseball operations and general manager A.J. Preller, the team said.
Longtime Padres owner Peter Seidler died in 2023 and his family had been split on control of the team, with a sales process announced in November 2025. Feliciano and Jones were in the pool of bidders engaged by the family to buy the franchise.
In a statement, MLB Commissioner Rob Manfred thanked the Seidler family for their stewardship of the Padres and welcomed Feliciano and Jones as new majority owners.
"Jose and Kwanza understand the unique place the Padres hold in San Diego and the powerful bond between the Club and its fans. We look forward to their leadership of the Padres and to working with them to build on the Club's strong foundation in a market that is so important to Major League Baseball," he said.
