*José E. Feliciano and Kwanza Jones are now at the helm of the San Diego Padres after Major League Baseball approved their purchase of the franchise in a record $3.9 billion deal, ESPN reports.
The husband-and-wife business partners reached an agreement with the Seidler family in May to acquire controlling interest in the team. MLB owners unanimously approved the transfer on Aug. 17, with Feliciano designated as the franchise’s control person.
The transaction gives the Puerto Rican-American investor a prominent new role in professional sports. Feliciano is the co-founder and managing partner of Clearlake Capital Group, while Jones is an entrepreneur, investor and artist who has worked alongside her husband across their business and philanthropic ventures.
Commissioner Rob Manfred welcomed the new ownership group while acknowledging the foundation established by the late Peter Seidler.
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“José and Kwanza understand the unique place the Padres hold in San Diego and the powerful bond between the club and its fans,” Manfred said. “We look forward to their leadership of the Padres and to working with them to build on the club’s strong foundation in a market that is so important to Major League Baseball.”
Feliciano and Jones have made clear that winning will be central to their ownership, but Feliciano said they intend to balance ambition with financial discipline.
“We have been blessed with a team in a city that is supporting us in a way that is allowing us to invest back in that team, in that stadium, in that city,” Feliciano said. “We’re committed to doing that. We are going to live within our means. That can mean different things in different years. But we wanna win.”
He added, “And we’re going to continue to support that goal in many different ways. That means that at some points, we will be aggressive. But we’re always going to do it while keeping the long-term health of the team in mind. I think those are things that we’re going to balance.”
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