Explaining Southern California's economy

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

San Diego Padres v Arizona Diamondbacks

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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.

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