The San Diego Padres have never been the same since Peter Seidler passed away. And due to the family drama, the team sale was coming either way, and now it is closer than ever. And even Rob Manfred is doing his part in speeding up the process

In a recent interview, Rob Manfred said, “The best I can tell on you on the Padres is there is robust interest on what is viewed as a really appealing asset.”

The San Diego Padres ownership group began exploring a full franchise sale with the Seidler family in November 2025. The Seidlers purchased the Padres in 2012 for $800 million and have owned the controlling interest ever since.

The sale option was publicly announced by Chairman John Seidler to honor Peter Seidler’s legacy and secure long‑term success. MLB allowed John Seidler to serve as the control person after Peter’s 2023 death. This strategic review came while the team prepared for the 2026 season, with attendance and competitiveness high.

The sale work is being guided by merchant banks BDT & MSD Partners.

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A legal hurdle in the sale was a lawsuit by Peter Seidler’s widow, Sheel, against two Seidler brothers that began in early 2025.

Sheel’s complaint alleged fiduciary breaches and sought control of the franchise in court. In early February 2026, she dropped most claims in that lawsuit, clearing uncertainty around ownership control. That resolution improved clarity for potential buyers about the governance of the trust controlling the San Diego Padres.

Remaining legal issues today involve accounting and trust distribution, but most dispute points are settled. This settlement has helped the sale process gain traction.

MLB now looks set to accept initial purchase bids by late February 2026, according to reports.

The San Diego Padres valuation by Sportico is about $2.31 billion, notably higher than the $1.95 billion Forbes estimate from earlier in 2025. The Seidler family is seeking a sale closer to $3 billion, which would exceed the $2.42 billion record paid for the New York Mets in 2020.

The expectation of bids above current valuations underscores franchise value growth. Petco Park’s consistent sellouts and strong fan base add to that value. MLB teams typically sell for overvaluation when interest is high.

Golden State Warriors owner Joe Lacob is among the interested bidders looking at the Padres. Lacob completed a fact‑finding trip to Petco Park before February 2026 as part of his interest.

His Warriors franchise is valued at nearly $11 billion and has won 4 NBA championships since 2010. Sources say he has previously sought MLB teams like the A’s and Angels when they were available. Lacob has stated he would not consider relocating the Padres away from Southern California.

His interest is seen as serious, though no formal offer has been submitted yet.

Two international billionaires are also known to be engaged in the Padres sale process.

Dan Friedkin, with a net worth near $9.9 billion, owns Everton and AS Roma through Pursuit Sports. Jose E. Feliciano, estimated at $3.9 billion, is part of the Chelsea FC ownership group via Clearlake Capital. Sportico lists both as among a small group of potential MLB buyers in February 2026.

 These suitors bring global sports portfolios and capital alignment with elite franchise ownership. Their interest reflects the Padres’ appeal beyond just local buyers.

San Diego’s fan support underscores why the Padres are attractive to investors. The team has sold out season tickets for four straight years, with 2025 attendance reaching 3,437,201, second only to the Dodgers in MLB.

That attendance figure came with 72 sellouts at home games, the highest in club history. Those consistent crowds make the San Diego Padres revenue streams strong compared with other midsize markets. The franchise has also posted consecutive 90‑win seasons, boosting its competitive brand.

These performance and attendance metrics are key drivers of buyer demand and valuation.

Padres’ Preller Focused on Winning While Long-Term Contract Talks Remain Unresolved

A.J. Preller is navigating a delicate balancing act, keeping focus sharp despite unresolved contract negotiations with ownership. The organization faces uncertainty at the top, yet he remains committed to improving the roster for competitive consistency. Every decision he makes now could define the team’s direction, underscoring the stakes behind long-term discussions

The San Diego Padres are in the middle of a possible ownership change as the Seidler family explores selling the franchise, a process announced in November 2025 through advisory firm BDT & MSD Partners to “evaluate our future with the Padres,” including a sale, with valuations possibly near $2.75 billion based on revenue and debt assumptions.

The Seidlers have owned the club since 2012 after buying it for about $800 million, and attendance hit a record 3,437,201 at Petco Park in 2025, the first time above 3 million in team history. This backdrop of change comes as the team aims to contend again in 2026 with its deepest postseason stretch ever under the current ownership.

With ownership uncertainty in play, the Padres’ payroll remains constrained; projections placed the 2026 payroll at about $196 million, down from roughly $231 million the year before, including luxury tax.

San Diego faces clear roster gaps, especially for starting pitching and a veteran bat, leading president A.J. Preller to lean on trades and creative options rather than big free‑agent deals.

For example, the team has eyed trade options for rotation help and corner bats, given limited budget room under the competitive balance tax threshold.

This ownership situation could shape the Padres’ future strategy, since a sale could alter financial flexibility for long‑term commitments and in‑season moves. Historically, they committed over $1.25 billion to top players’ contracts under former owner Peter Seidler, a spending pattern that vaulted them into consistent playoff contention.

What happens next at the top might determine whether San Diego can keep pace with higher‑spending rivals and maintain its recent success.