The Padres issued a statement earlier Thursday afternoon but did not disclose any other details aside from the vote. The price range is expected to be in the $800 million zone. The sale officially closes in the next 7-10 days.
The sale was headed by 18-year majority owner John Moores. This had been the second time he sold the team this year. The first time, the owners did not approve the sale to former player agent Jeff Moorad in the spring. This forced Moores to find another suitor.
Ron Fowler and Terry Seidler, O’Malley nephew, were also on hand for the vote.
Commissioner Bud Selig, who approved the vote, released a statement saying:
“On behalf of Major League Baseball, I am pleased to congratulate Ron Fowler, the Seidler and O’Malley families and all of their partners as they become the new stewards of the San Diego Padres. With significant local representation and extensive baseball experience, this group understands the Padres’ binding role in the community, and I believe that its collective long-term vision and passion will serve the fans of San Diego well in the years ahead.
“I appreciate all that John Moores has done for the city of San Diego and applaud his exceptional sense of personal philanthropy, which has benefited many worthy local causes since his purchase of the club in 1994. I wish John and his family all the best.”
“We are grateful to have completed a significant step in the sale process,” Fowler said following the vote. “On behalf of the Seidler and O’Malley families, I would like to thank the commissioner and MLB owners for their vote of trust. We want to thank San Diego fans for their patience and support as we await the final closing.”
Among the O’Malleys, Fowler and Seidler, pro golfer Phil Mickelson was also in the group to purchase the Padres. The O’Malleys have been in baseball a longtime dating back to the days of the Brooklyn Dodgers.
The big picture is the hope for better player development and more money for big name free agents as the years go on to keep fans happy.
The team is currently in fourth place in the National League West
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