MLB Owners to Vote on Padres sale on August 16

Forbes, the business news and financial magazine, is reporting that August 16 will be the date when all 30 Major League Baseball owners vote on the sale of the San Diego Padres by John Moores to a group led by the O’Malley family.

In order for the sale to be approved, 21 owners need to vote in favor of it, however, Forbes cites a MLB insider who said a unanimous approval is expected.

The O’Malley group includes Peter O’ Malley (a former Dodgers owner) and four grand children of Walter (Kevin and Brian O’Malley) and golfer Phil Mickelson.

It is being speculated that the sale price is $800 million with $200 million from the television deal with Fox Sports San Diego that outgoing owner Moores will pocket, according to Forbes.