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Tuesday, Mar 19, 2024
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Padres Sale Said to Be Imminent

Several media outlets reported the imminent sale of the San Diego Padres to a group headed by Peter O’Malley, the former owner of the Los Angeles Dodgers, and members of his family, as well as local golf star Phil Mickelson.

The reports quoting unnamed sources said the deal was targeting completion by June 29, or before the All-Star Game on July 10.

John Moores, the franchise’s majority owner, opened exclusive negotiations with the O’Malley group, which includes two of his sons and two nephews. While one report said local businessman Ron Fowler was involved in the group, Fowler denied that he is part of the buying group in another report.

Fowler, chief executive of Liquid Investments Inc., a beer distribution business based in Del Mar, is managing partner of a group of a about a dozen people that former Padres CEO Jeff Moorad assembled to buy the team in 2009 via an installment plan for about $500 million. The group owns 49 percent of the team, and Moores owns 51 percent.

The transaction was on track for completion this year, but at a January meeting of Major League owners, Moorad failed to obtain approval, although a vote wasn’t taken.

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