Padres ownership exploring potential sale of team

The San Diego Padres could be sold to a new owner.

The Seidler family, which currently owns the Padres, announced Thursday that it's working with a firm to explore strategic options for the franchise, including a potential sale of the team.

Peter Seidler was the club's chairman until he died at age 63 in November 2023. However, his passing sparked an unresolved legal dispute over ownership between his wife and children, as well as his brothers.

"We will undertake this process with integrity and professionalism in a way that honors Peter's legacy and love for the Padres and lays the foundation for the franchise's long-term success," John Seidler, Peter's brother and new chairman, said in a statement. "During the process and as we prepare for the 2026 season, the Padres will continue to focus on its players, employees, fans, and community while putting every resource into winning a World Series championship."

The Padres have a preliminary valuation of $1.8 billion, which includes around $300 million in debt, reports Kevin Acee of the San Diego Union-Tribune.