DENVER – Major League Baseball owners approved the sale of the San Diego Padres on Thursday to a group that includes the O’Malley family and pro golfer Phil Mickelson.
Commissioner Bud Selig announced the endorsement after the conclusion of the owners meetings in Denver.
Under the deal, the group will buy the franchise from John Moores for around $800 million. The final closing of the sale will be on or before Aug. 31.
The new ownership group includes Kevin and Brian O’Malley, the sons of former Los Angeles Dodgers owner Peter O’Malley. Peter and Tom Seidler — the nephews of Peter O’Malley — also will be involved in the deal. Two of the four are expected to move to San Diego.
“This group knows what it takes to compete,” Selig said. “They’re very optimistic. I’m optimistic. I’ve gone over their projections, gone over everything. I think their projections are optimistic but realistic. This is a good day for baseball.
“I think Padres fans have a right to be very happy today — very happy.”
Ron Fowler, chief executive of Liquid Investments, is set to become controlling owner and executive chairman, Peter Seidler said. He also gave a vote of confidence to CEO Tom Garfinkel and General Manager Josh Byrnes.
As for what name this new ownership group may operate under, Seidler smiled and said, “The Padres.”
No, really.
“Really, the ‘Padres Group,’ ” he said. “We want the attention and spotlight to be on a great product on the field. We’re going to be supportive and do everything we can to bring that down to San Diego. We’re a bunch of Padres up here.”
The agreement with the new group came months after Jeff Moorad’s attempt to buy the team on a layaway plan collapsed. Moores’ deal with Moorad, who began his attempted purchase of the club in 2009, was valued at about $500 million. Moores’ divorce forced him to put the team on the market in 2009.
Selig said it’s going to be difficult to say farewell to Moores.
“John did a lot of wonderful things for baseball,” he said.
Selig said he was amazed at the ease with which this deal got approved by the owners.
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