The Padres will raise their payroll over $50MM next year with the expectation that it will rise to a “resting place” of $70MM within five years, CEO Jeff Moorad told Bill Center of the San Diego Union-Tribune. That’s a significant boost for the Padres, who have operated on payrolls in the $38-45MM range since 2009.
“Our long-term goal is to operate at $70 million,” Moorad said. “When we get there, we’ll be properly balanced.”
Moorad also noted that his ownership group is not close to completing its purchase of the Padres from owner John Moores, though they hope to finalize the deal sooner rather than later. The Padres are looking forward to a new TV deal, since their current agreement expires after the season. However, Moorad says the Padres don’t expect to be major spenders on the free agent market.
“The team is going to be homegrown,” he said. “I’m consistent. We’re not going to be shifting our priorities from year [to year]. The plan won’t change.”
Moorad explained that he intends to break even every year, without pocketing profits or sustaining losses.