SI

Padres Sell to José E. Feliciano for MLB-Record $3.9 Billion

The Padres sale shatters an MLB record.

Edited 13 hours ago13 hr by caulfield12

This sale is breaking a record but may not reset the market for MLB franchises. The Padres have a unique set of circumstances that likely elevated the price. San Diego is the eighth biggest city in the United States, and has an affluent population with money to burn. A dedicated fanbase has packed Petco Park for years, driving up in-park revenue.

That said, the city’s media market ranks only 30th due to geographic constraints. The Pacific Ocean to the west, an international border to the south, Orange County to the north and a largely empty desert to the east restrict the reach of the television market. While that has long been an issue for franchises in the city, it may not impact the Padres much in the future. MLB's new collective bargaining agreement is expected to pool all television revenue and distribute it evenly among the league's teams. That would be a gigantic boost to the franchise's finances.

There is a long way to go, but a change like that would end the only aspect depressing the team’s value.

Edited 13 hours ago13 hr by caulfield12

https://www.sandiegouniontribune.com/sports/mlb/san-diego-padres/

The uniqueness ultimately prompted a record valuation, even though the new owners will take on what sources have described as hundreds of millions of dollars of debt.

The opportunity to land a baseball franchise in Southern California, particularly in a city with no other major professional sports team, made the Padres especially appealing, as did their loyal fan base. The Padres have operated without a local media contract since the early part of the 2023 season, a major reason their revenues began to fall. But MLB's hopes to centralize local media by 2028 could ease those concerns.

espn.com

Edited 13 hours ago13 hr by caulfield12

Wow, the new owner must have made a fortune on royalties from "Feliz Navidad".

....oh wait, different guy. Bad news, though, he owns a........GASP......private equity firm! I guess the Padres are just as doomed as the White Sox.

Pretty sure nobody in soxtalk is miffed