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San Diego Padres sale completed for $800 million, league owners to vote on August 16

San Diego Padres v Colorado Rockies

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Starting pitcher Anthony Bass of the San Diego Padres. The team was just sold to a new ownership group for $800 million.

Pretty much as expected, the San Diego Padres sale to heirs of former Dodgers owner Peter O'Malley — plus pro golfer Phil Mickelson and, according to the San Diego U-T, Ron Fowler — has gone through for $800 million. Padres owner John Moores and minority owner Jeff Moorad sealed the deal tonight.

As has been widely reported prior to the deal closing, $200 million of the $800 million is part of the payment that the Padres received when they recently did a 20-year, $1.4-billion broadcast deal with Fox Sports. Fowler, a San Diego businessman, had said that he wasn't front-and-center in the new investor group, but it appears that he has stepped away from the minority ownership group and is now assuming a role with the new owners.

Major League Baseball's owners still have to vote on the deal. They could do this on August 16. But the vote will likely be a formality, given that MLB Commissioner Bud Selig has effectively given his blessing to the new ownership group. As David Carter, professor of sports business at the USC Marshall School of Business and the Executive Director of the USC Sport Business Institute, explained to me when we talked about the deal in early July: