Pending MLB Owner approval, former Los Angeles Dodgers owner Peter O’Malley and his purchase group will own the San Diego Padres, sources say. The price tag on the ballclub is a reported $800 million which include a $200 million advance on the money FOX Sports San Diego paid for the right to air Padre games for the next 20 years.
The group buying the Padres includes O’Malley’s sons Kevin and Brian and their cousins Peter and Tom Seidler; local business man Ron Fowler and pro golfer Phil Mickelson.
Mickelson isn’t expected to have much say in the team, rather O’Malley’s family involved in the purchase group will be the “hands on” owners of the team.
The O’Malley group was selected exactly one month ago Monday as the group who would be purchasing the team. The month until now was spent finalizing the financial aspects of the deal. The sale now goes to vote, with all of baseball’s owners voting to approve or deny the sale to the O’Malley group. A decision is expected around August 16th and that decision is expected to be one of approval.
This is the second time O’Malley will be an MLB owner. He took over ownership of the Los Angeles Dodgers in 1979 when his father, Walter Francis O’Malley, died. He sold the Dodgers to Rupert Murdoch and NewsCorp in 1998 and began a crusade to get an NFL franchise in L.A.