O’Malley Group Selected To Purchase Padres

SUNDAY: San Diego businessman Ron Fowler will be the lead limited partner in the O'Malley group's purchase of the Padres, sources tell Jon Heyman of CBSSports.com. Peter O'Malley, his two sons, and his two nephews will have prominent but lesser roles within the ownership group. Heyman adds a quick approval by MLB is possible, perhaps even by the August owners meetings, since Fowler's new role gives the team a local lead and his reputation within baseball appears positive.

SATURDAY: The sale is "not done yet," reports Bill Shaikin of The Los Angeles Times (on Twitter). The O'Malley group is in exclusive negotiations to purchase the team, however.

FRIDAY: The O'Malley group has been selected to purchase the Padres, reports Ken Rosenthal of FOX Sports (on Twitter). They will pay $800MM total, including $200MM for a portion of the team's equity in FOX Sports San Diego.

Late last month we heard that Steve Cohen dropped out of the bidding once the price climbed that high, so the O'Malleys have been expected to land the team for the last few weeks now. Current owner John Moores acquired the franchise back in 1994 for approximately $80MM.

The Padres have a number of high-priced players who could be trade bait at the deadline, specifically Carlos Quentin and Huston Street. The new ownership should provide some clarity as far as their financial situation going forward, such as their ability to offer long-term contracts. Just yesterday GM Josh Byrnes said he did not have the ability to offer contract extensions at this time.



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