Explaining Southern California's economy

Will the Padres be sold by the All-Star break?

San Diego Padres v Arizona Diamondbacks

Norm Hall/Getty Images

Chase Headley of the San Diego Padres dives for a ground ball against the Arizona Diamondbacks. The team is in negotiations with potential new owners, but may not seal the deal in time for the All-Star Game.

Last week, there was some serious speculation that the San Diego Padres would be sold by current owner John Moores to a group led by the O'Malley family (of Dodgers fame) with investors that include pro golfer Phil Mickelson in time for the All-Star Game, which takes place on July 10. 

We're obviously running out of days for that to happen. However, the O'Malley group is reported to be in "exclusive" negotiations with Moores, over a purchase price that's been pegged at $800 million. Major League Baseball Commissioner Bud Selig has also all but given the deal his blessing

There were some questions about how the deal would be financed, based on problems Peter O'Malley encountered with Korean investors when he entered bidding for the Dodgers earlier this year. But it now appears that the O'Malley bid for the Padres doesn't involve that funding channel.

Moores and the O'Malleys may not be able to work everything out by next Tuesday. That wouldn't necessarily be a huge loss, PR-wise. The Padres have only one player on the National League roster: pitcher Hutson Street. The San Francisco Giants, by contrast, have four. 

Still, if Moores and O'Malley could get deal done, the investor group in the stands at Kauffman Stadium in Kansas City would probably make a good picture.

Follow Matthew DeBord and the DeBord Report on Twitter. And ask Matt questions at Quora.

blog comments powered by Disqus