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Tuesday, August 07, 2012

Padres sold to group headed by O’Malley heirs, Fowler, Mickelson

What a Kroc!

It took longer than expected, but the sale of the Padres to a group headed by heirs of the former owners of the Los Angeles Dodgers, San Diego business and civic leader Ron Fowler and professional golfer Phil Mickelson was completed Monday night.

The O’Malley Group purchased the Padres from majority owner John Moores and a group of minority owners formed by Jeff Moorad in 2009 to buy the Padres. The sale price of approximately $800 million includes $200 million in upfront money the Padres received as an advance payment from Fox Sports San Diego as part of a new 20-year television agreement.

The transaction was finalized Monday night pending approval by other Major League Baseball owners. That approval could come as soon as Aug. 16 when the owners meet in Denver.

RoyalsRetro (AG#1F) Posted: August 07, 2012 at 01:32 PM | 8 comment(s) Login to Bookmark
  Tags: franchise sale, padres

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   1. Moeball Posted: August 07, 2012 at 05:13 PM (#4202661)
We will field exciting and winning teams.

Currently they have neither (sigh).
   2. Joe Kehoskie Posted: August 07, 2012 at 05:20 PM (#4202672)
O'Malley struggled to run the big-market Dodgers (and ultimately sold the team) in the '90s when the Dodgers had $0 debt. It's going to be interesting to see how he does with the low-revenue Padres while likely carrying substantial debt.
   3. McCoy Posted: August 07, 2012 at 06:15 PM (#4202711)
When was the last time a team was exciting and a losing team?
   4. Crispix reaches boiling point with lackluster play Posted: August 07, 2012 at 06:23 PM (#4202715)
The 2007 Giants?
   5. valuearbitrageur Posted: August 07, 2012 at 07:43 PM (#4202749)
So does Moorad get some of the sale price?
   6. charityslave is thinking about baseball Posted: August 07, 2012 at 08:30 PM (#4202782)
Damn, I wish I'd gone ahead and bought the Astros for the $680 million. That was a bargain.
   7. asinwreck Posted: August 07, 2012 at 08:37 PM (#4202785)
When was the last time a team was exciting and a losing team?

Last night, if exciting = hilarious.
   8. Moeball Posted: August 08, 2012 at 08:17 PM (#4203846)
Last night, if exciting = hilarious.

Wow - I saw the replay and I could have sworn this was archival footage of the '62 Mets!

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