Feliciano and Jones Complete $3.9 Billion Purchase of San Diego Padres

Billionaire investor José E. Feliciano and his wife, entrepreneur Kwanza Jones, were formally introduced as the new principal owners of the San Diego Padres at Petco Park on Monday, Aug. 24, 2026, following their acquisition of the franchise at a record $3.9 billion valuation.

Major League Baseball owners unanimously approved the transaction on Aug. 17, finalizing a competitive bidding process that began last November after the family of late owner Peter Seidler announced plans to sell the team.

Feliciano was named the franchise's control person, with the ownership group holding between 30% and 40% of the club. The remaining stake is shared among minority partners including Joey and Jesse Buss, Behdad Eghbali, Alfredo Harp Helú, and members of the Seidler family.

"We have been blessed with a team in a city that is supporting us in a way that is allowing us to invest back in that team, in that stadium, in that city," Feliciano said, according to ESPN. "We're committed to doing that. We are going to live within our means.

That can mean different things in different years. But we wanna win. And we're going to continue to support that goal in many different ways.

That means that at some points, we will be aggressive. But we're always going to do it while keeping the long-term health of the team in mind. I think those are things that we're going to balance."

The couple emphasized that private equity firm Clearlake Capital will not be involved in team operations, describing the purchase as a personal effort to support both the team and the local San Diego community.

"That's the reason we say we're family first -- because the lens with which we look at this investment is very, very different," Jones said, as reported by ESPN. "The commitment is very different. The outcomes that we know we want -- you always want outsized outcomes, but in here, we really are dedicated and committed to something beyond just a financial outcome."

Addressing organizational goals, the new owners reiterated their commitment to winning the franchise's first World Series title while honoring the groundwork laid by previous ownership.

"We need to win the World Series," Feliciano said, according to ESPN. "It's that simple. That's what we're gonna do."

Padres executives confirmed that day-to-day operations will remain under current leadership, maintaining stability as the team continues its current regular-season schedule.

"I can't think of a better fit for where we need to go as an organization," Padres CEO Erik Greupner said, according to ESPN. "I think we've accomplished a lot. Obviously we have not yet accomplished our ultimate goal.

And I think to take us there, there's no better match than Jose and Kwanza. We're all just incredibly excited to keep doing what we're doing here, working in professional sports and baseball in San Diego doesn't get much better than that."

Jones opened the introductory conference by playing an original song she recorded to highlight the team's ambitions for the season.

"We are all in; it's not lip service," Jones said, as reported by MLB.com. "We are absolutely committed to this organization and we are absolutely overjoyed."

Feliciano reflected on joining the franchise and taking over the stewardship of the team during an active postseason push.

"Today is a dream come true," Feliciano said, according to MLB.com. "It's an amazing day for us. We're very grateful.

Very honored to be here with you. And to celebrate today as now the newest members of the Padres family."

The new owners acknowledged the legacy of Peter Seidler, who passed away in 2023 after driving team payroll and fan engagement to historic levels.

"We are taking on this legacy at a great time," Feliciano said, as reported by MLB.com. "But I think there's always more that you can do. You can always leave the world a slightly better place than you found it. That's our aim."

Jones echoed those winning sentiments when speaking about her outlook for the team's performance on the field.

"You heard it," Jones said, according to MLB.com. "We're gonna win, we're gonna win -- win it all."

Jones added a brief clarification regarding the timeline for achieving championship success.

"We hope it's sooner rather than later," Jones said, as reported by MLB.com.

The ownership transition comes as the organization looks to build on its philanthropic programs throughout the surrounding region.

"Sports is just much more than a business," Feliciano said, according to MLB.com. "Sports is an integral part of the community. And in this case, the Padres are one of the pillars of this city and this community. We're looking forward to engaging in many ways."

Jones outlined plans to assess community needs directly through regional outreach.

"It's hard to imagine what we can do, without knowing what has already been done," Jones said, as reported by MLB.com. "That's why I want to be able to see where and how and what has been done within the area, within the region, where are there areas of needs?"

Feliciano also noted shared characteristics between the team's mindset and the couple's personal journey.

"Maybe people underestimate us," Feliciano said, according to MLB.com. "People don't think we're capable of doing what we've done -- including winning the bid for the Padres. That motivates us.

I see that same grit, that same resilience, that same will to overcome or surprise people that underestimate us. … This team doesn't give up. This city doesn't give up. And we won't give up either."

Prior to the formal press conference, Feliciano discussed his background and natural sports rivalries.

"The good thing is," Feliciano told the Los Angeles Times, "rooting against the Dodgers comes naturally to me."

During the interview session, Feliciano remarked on his own musical capabilities relative to his famous namesake.

"My only musical talent is my name," Feliciano said, according to the Los Angeles Times. "I humbly ask you to please add my middle initial so I never get confused with the singer."

Jones expressed the highest performance expectations during the initial media exchange.

"Multiples," Jones said, as reported by the Los Angeles Times.

Feliciano added his perspective on achieving difficult athletic milestones.

"The impossible becomes possible when somebody does it. So let's do it," Feliciano said, according to the Los Angeles Times.

In response to questions regarding timing, Feliciano addressed whether current events in southern California baseball influenced the decision to acquire the club.

"You've got to look at these things on a generational, multi-decade basis, honestly," Feliciano told the Los Angeles Times. "It's like trying to time a great investment in the market. You can't.

What I can tell you is that this is the good time -- the best time -- for us. I think it also coincides with Peter's legacy: The team is in a great place, the city is in a great place."

League leadership endorsed the finalization of the sale and highlighted the team's regional importance.

"José and Kwanza understand the unique place the Padres hold in San Diego and the powerful bond between the club and its fans," MLB Commissioner Rob Manfred said in an official statement. "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."

Following the league vote, Feliciano and Jones issued a joint statement outlining their long-term vision.

"We are a family first, and becoming owners of the San Diego Padres means joining an even larger one," Jones and Feliciano said in a statement. "We are grateful to the Seidler family, and especially to Peter, for raising the expectations of what this franchise can achieve. ... 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. We are all in and committed to winning."

Field personnel noted that the change in ownership would not disrupt ongoing team activities.

"As far as the day-to-day operations, nothing changes for us," Padres manager Craig Stammen said, as reported by the Associated Press. "We've got to go out here and play the games, just like we have all season long. The ownership sale has kind of been something that's been going on throughout the entire year. It doesn't really affect the play on the field, but we're excited to have José and Kwanza a part of the Padres and can't wait to welcome them."

Players also shared positive reactions to the arrival of the new ownership group.

"It's good to see people that care working with us, you know?" Padres outfielder Jackson Merrill said, according to the Associated Press. "I mean, the Seidlers cared a lot.

It'll be fun to see how these people take it, mold it into their own, you know? Trust in them, as they trust in us on the field. So, full confidence in them.

Excited to meet them."

The league also expressed gratitude to the outgoing ownership family for their tenure.

"On behalf of Major League Baseball, I thank John Seidler and the entire Seidler family for their stewardship of the San Diego Padres," Manfred said in a statement issued by MLB. "Continuing the legacy established by the late Peter Seidler, the Padres reached the postseason four times in the last six years, energized one of baseball's most passionate fanbases, and strengthened the club's role as a cornerstone of the San Diego community. We appreciate the Seidler family's longstanding commitment to our National Pastime and their many contributions to the game."

Team management also discussed top prospect Ethan Salas, who has hit .377 through his first 53 at-bats in Triple-A.

"He's definitely capable of being a major-league player at any point, and that will be a decision for the organization as we go forward," Stammen said, according to Sports Illustrated. "But I think right now, him having not played a full season for a while, we got to continue to go on that path. And although we're really excited about him, you know, continue to stay patient, especially with our catching situation in the big leagues right now."

Feliciano is the second Latino principal owner in MLB history, joining Arte Moreno of the Los Angeles Angels, while Jones becomes the first Black female owner with a controlling stake in the league.