Sports
Head Of Santa Monica-Based Private Equity Firm To Buy San Diego Padres: Report
The co-founder of Clearlake Capital in Santa Monica has reached a deal to buy the San Diego Padres for a record $3.9 billion, ESPN reports.
One of the biggest rivals of the Los Angeles Dodgers could soon have LA-based ownership.
Jose E. Feliciano, the co-founder and managing partner of Santa Monica-based private-equity firm Clearlake Capital Group, and his wife have reached a deal to buy the San Diego Padres for a record $3.9 billion, ESPN and other sports outlets reported Friday.
If the deal is approved by Major League Baseball, it would supersede the current record $2.4 billion that the New York Mets sold for in 2020.
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The Padres were last sold in 2012 for $800 million.
Feliciano, who was born in Puerto Rico, founded Clearlake Capital in 2006 with Iranian-American businessman Behdad Eghbali.
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The firm, which has more than $90 billion of assets under management, is headquartered in Santa Monica and has affiliate offices globally.
Jones, a Los Angeles native, is the CEO of the motivational media company SUPERCHARGED and is also the co-founder of a philanthropic platform named after her and her husband. The couple met while both were students at Princeton.
According to the Wall Street Journal, the pair would have an equal stake in the MLB team, but Feliciano would be the controlling owner.
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