MLB's San Diego Padres sold for 5.7 trillion won, the highest price ever

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[The Financial News] The San Diego Padres of Major League Baseball (MLB) are set to be sold to billionaire José E. Feliciano and his wife, the founder of private equity firm Clearlake Capital Group, L.P., for $3.9 billion, or about 5.7 trillion won, the highest price ever for an MLB team transaction, The Wall Street Journal (WSJ) reported on the 17th (local time).
According to the report, the Seidler family, which owns the Padres, selected the Felicianos as the final winners in the bidding process.
The previous record for an MLB team deal was the $2.4 billion, or about 3.5 trillion won, that billionaire investor Steve Cohen paid when he acquired the New York Mets in 2020. The latest sale price far surpassed that mark.
WSJ said the competitive bidding also included businessman Dan Friedkin and Joe Lacob, owner of the NBA's Golden State Warriors.
Feliciano, who is from the Commonwealth of Puerto Rico, is an investor with a Goldman Sachs background. He also took part in Chelsea Football Club's equity acquisition in 2022.
WSJ reported that when the late Peter Seidler acquired the Padres in 2012 with co-investors, the purchase price was about $800 million, roughly one-fifth of the current sale price.
mkchang@fnnews.com Jang Min-kwon Reporter