Explaining Southern California's economy

San Diego Padres could be sold for $800 million by the All-Star break

San Diego Padres v Colorado Rockies

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Starting pitcher Anthony Bass of the San Diego Padres. The team could be nearing a sale for $800 million.

That's what being reported, anyway. CBS Sports says that current owner John Moores has entered an "exclusive negotiating window" to sell the team for about twice its current (depressed) value of $406 million — and a lot more than Moores paid to buy the team in 1994, and to start selling it in 2009.

The sticker price is rumored to be $800 million. If the sale — to a group led by the family of former Dodgers owner Peter O'Malley, brewing tycoon Ron Fowler, and other investors including pro golfer and San Diego native Phil Mickelson — goes through, it would make the Padres the third costliest Major League Baseball team acquisition, behind the Chicago Cubs $845 and of course the recent Dodgers sale of more than $2 billion.

It would also mean that the two other potential owners — communications mogul Gary Jabara; and private-equity titan Steve Kaplan of Los Angeles' Oaktree Capital — are out of the running. 

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