"The Seidler family is considering a sale of the San Diego Padres. Selling the club first became a possibility when former chairman Peter Seidler died two years ago on Friday. Those odds likely increased in January, when Seidler's widow, Sheel, sued for control of the team. Her court filing sought to vacate any actions taken by the trust that owns 24% of the Padres, including the trust's naming of Seidler's brother, John, as the club's control person."
"That litigation remains pending, with no new court filings since late May. It was John Seidler who announced Thursday that the family was beginning a process of evaluating our future with the Padres, including the potential sale of the franchise. Forbes valued the Padres at $1.95 billion before the start of the 2025 season, while recent MLB team sales have been completed at about 5 times a team's annual revenue. One source placed the Padres' annual revenue at $500 million."
"The potential end of an era prompts all kinds of questions. Which member of the ownership group first wanted to explore a sale? Do the others have enough money to buy that person out? How intent on selling are the Seidlers? And who could possibly buy the Padres? Arte Moreno, owner of the Angels, stands on the field before a game May 24, 2023. Moreno said Wednesday that he expects to be the Angels owner for the long run. (AP Photo/Ashley Landis) Starts and stops"
The Seidler family is weighing a possible sale of the San Diego Padres following the death of former chairman Peter Seidler and ongoing internal litigation. Sheel Seidler sued in January seeking control and to vacate actions by the trust that owns 24% of the team, including the naming of John Seidler as control person; the litigation remains pending. John Seidler announced a family evaluation of their future with the club, including a potential sale. Forbes valued the Padres at $1.95 billion, and a reported $500 million in annual revenue could imply valuations near $2.75 billion. Other MLB ownership groups have explored extended sale processes that stalled or led to investor changes.
Read at www.sandiegouniontribune.com
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