Billionaire Poised to Make Record Offer for MLB Team

Baseball's next record is about to be set off the field. The San Diego Padres are close to being sold for about $3.9 billion to private-equity billionaire Jose E. Feliciano, reports the Wall Street Journal. The price would mark the richest sale in MLB history by a mile: The current record is the $2.4 billion paid by Steve Cohen for the New York Mets in 2020. The Padres have not confirmed that Feliciano, a co-owner of the Chelsea soccer club in the English Premier League, has emerged as the winning bidder.

The Seidler family, which has controlled the Padres since 2012, is expected to finalize and announce the agreement early next week. Feliciano has been in the running with a group of bidders that included Golden State Warriors owner Joe Lacob and Everton soccer team owner Dan Friedkin, per the Athletic. Feliciano is a native of Puerto Rico who founded Clearlake Capital in 2006. Forbes pegs his net worth at $3.9 billion.