Peter Seidler, Ron Fowler and the ownership group that purchased the Padres in 2012 introduced a new era to San Diego baseball. It began with a payroll at $62.9 million in their first season and rose to a high
of $257.2 million in 2023 after Peter Seidler bought out Fowler and assumed controlling interest in the team. They also went from bottom dwellers for much of their history, to being in the playoffs in four of the last six seasons.
Peter Seidler repeatedly stated his desire for the team to remain in his family for generations to come, that his children would have the team as part of his legacy. All that came to an end Thursday when the current controlling partner, John Seidler, released a statement indicating a probable sale of the team.
In January, Peter Seidler’s widow, Sheel Seidler, filed a lawsuit against the rest of the members of the family trust. This began a contentious and public trading of accusations regarding the controlling interest in the team. When Peter Seidler passed, he left the team as part of his trust with his wife and children being the beneficiaries and with a 24% stake. The rest of the Seidler family that was part of the ownership group, which includes siblings and other family members, have a 20% stake.
According to an article written by Kevin Acee in the San Diego Union-Tribune, there are 8-10 other owners in the group and one of them is already seeking to sell his approximate 10% stake. The latest valuation of the team, stated at $1.75 billion by Forbes, shows that the $800 million selling price in 2012 has more than doubled.
Sources in Acee’s article also stated that the team is likely to sell for 5.5 times the annual revenue, which was about $500 million. There is also $300 million in debt to be paid, as well as $150 million owed to other partners from a revenue call in 2023.
Acee also quotes another source stating that there is not to be any expected change in the daily operations of the team for 2026 nor any change in payroll because of the impending change in ownership. President of baseball operations A.J. Preller was quoted, during the presser for new manager Craig Stammen, that he expected the 2026 payroll to be similar to that of 2025, which sat at $214.7 million.
The Padres should be an attractive sell for anyone with the resources that want to own an MLB team. They have a recent history of success, an attractive core of talented players under team control, are valued at $1.75 billion, have broken attendance records for three consecutive seasons, have an enthusiastic and devoted fan base and have one of the best and most lucrative ballparks in sports.
If the sale of the team is made to someone who is serious about winning and investing in a winning product, this could prove to be a big win for the fans of the Padres. We can only hope that Seidler and his family follow through on their pledge to choose wisely with the new owner.
