The Padres have struck a deal to sell the team to an investor group lead by Puerto Rican businessman Jose E. Feliciano and his wife, Kwanza Jones.
The deal is valued at nearly 4-billion dollars, and is a record for an MLB franchise. However, it will still require league approval to be finalized.
In a statement, Feliciano said "The Padres are more than a baseball team; they are a unifying force in San Diego, rooted in community, connection and belonging. As life and business partners, and as a family, we are honored to lead this next chapter together. We have worked hard for everything we have achieved, and we have built it together. We see that same spirit in this team and its fans, and we know what it takes to win. We are committed to showing up, listening and earning the trust of this community while building on the strong foundation established by the Seidler family."