MLB Owners Approve Sale Of Padres
The MLB owners approved the sale of the San Diego Padres today, which will soon the tenure of John Moores. The Padres will be owned by the O’Malley group, which includes San Diego businessman Ron Fowler, the heirs of Peter O’Malley, the former owners of the Los Angeles Dodgers and pro golfer Phil Mickelson.
The group purchased the Padres for $800 million, which includes $200 million that the club received as part of their television deal with FOX Sports. The actual ownership change should be finalized by August 31st.
While John Moores has not been popular as of late, the team did win with him as owner. The Padres won the NL West in 1996, the National League pennant in 1998, and playoff appearances in 2005 and 2006. The last few years have featured a lengthy divorce and payroll reductions. Hopefully this is the first step to the Padres climbing towards a winning ballclub.