Topline
The $3.9 billion acquisition of the San Diego Padres was approved Monday, greenlighting Kwanza Jones and Clearlake Capital co-founder José Feliciano as the franchise’s new owners.
A closeup view of the San Diego Padres logo on the jersey worn by Xander Bogaerts #2 of the San Diego Padres.
Photo by Nick Cammett/Diamond Images via Getty ImagesKey Facts
Feliciano and Jones, who are married, are purchasing more than 40% of the Padres, The Athletic reported, noting “other individuals and entities” are joining the couple at a smaller combined percentage.
Feliciano, who is a co-founder of Chelsea FC owner and investment firm Clearlake Capital, will become the Padres’ control person.
Padres CEO Erik Greupner will continue leading day-to-day operations alongside general manager A.J. Preller.
This is a developing story. Check back for updates.
This article was originally published on Forbes.com