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Saturday, April 28, 2012

Ken Rosenthal: Sources: O’Malley pushing to buy Padres

O’Malley, his son Kevin and nephew Tom Seidler are mounting an aggressive push for the San Diego Padres and want to close a deal by the All-Star break, sources say.

The O’Malley group has signed documents permitting it access to team financial information, sources say, and apparently has raised sufficient equity to purchase the club.

Initial indications are that the group values the Padres at less than half of the Dodgers’ $2.15 billion sale price, and perhaps significantly less.

The Chicago Cubs, who play in a much larger market than San Diego, sold for $845 million in 2009 — and the price included the Cubs’ historic home park, Wrigley Field.

Tripon Posted: April 28, 2012 at 01:04 PM | 8 comment(s) Login to Bookmark
Tags: dodgers, padres, rumors

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1. MikeTorrez Posted: April 28, 2012 at 03:14 PM (#4118551)

Why did he sell the Dodgers in the first place? The O'Malley's were basically baseball royalty in the 20th Century.

2. Walt Davis Posted: April 28, 2012 at 03:24 PM (#4118554)

Initial indications are that the group values the Padres at less than half of the Dodgers’ $2.15 billion sale price, and perhaps significantly less.

You think?

Both this and the Cubs comment sound like somebody is trying to boost the value of the Padres.

3. JE (Jason Epstein)

Posted: April 28, 2012 at 03:33 PM (#4118561)

If O'Malley is successful in buying the Padres, will he move them to the Coliseum too?

4. The District Attorney Posted: April 28, 2012 at 03:36 PM (#4118566)

No, Brooklyn.

5. Tripon Posted: April 28, 2012 at 03:51 PM (#4118577)

Why did he sell the Dodgers in the first place? The O'Malley's were basically baseball royalty in the 20th Century.

Several reasons, the first one was that due to L.A.'s politics, he thought he could never get a NFL stadium built on Chavez Ravine. The second one is that he thought there was going to be a new wave of corporate ownership that would push salaries up to the point where he thought he couldn't compete.

6. Why Bloody Valdespin? Posted: April 28, 2012 at 04:36 PM (#4118596)

I hope he moves the team to the Extreme Arena. Instead of extra innings, tie games decided by a race to the top of the Super Aggro Crag.

7. TerpNats Posted: April 28, 2012 at 07:43 PM (#4118709)

Somewhere, Buzzie Bavasi is smiling.

8. I am going to be Frank Posted: April 28, 2012 at 10:32 PM (#4118795)

I don't know where O'Malley lives and I doubt this would change his living situation if he succeeds but I would much rather live in San Diego than the LA area.

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Saturday, April 28, 2012

Ken Rosenthal: Sources: O’Malley pushing to buy Padres

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