Owners Approve Sale Of Padres

AUGUST 16th: The sale of the team is complete, reports Bob Nightengale of USA Today (on Twitter). The deal was approved at the owners meetings this week. The Padres are now under the control of the Ron Fowler group, which includes the O'Malley family.

AUGUST 6th: The sale of the Padres to the O'Malley group has completed, writes Bill Center of the San Diego Union-Tribune.

The sale price, according to Center, is roughly $800MM. That includes $200MM of up-front cash for the Padres as an advance for their upcoming 20-year television deal with FOX Sports San Diego. The deal is pending approval of other Major League owners, which could come as soon as Aug. 16 when the owners meet in Denver, according to Center.

The O'Malley group was selected to purchase the Padres one month ago today. Peter O'Malley, former owner of the Dodgers, leads the purchase group that also includes his sons, Kevin and Brian; nephews Peter and Tom Seidler; San Diego businessman Ron Fowler; and professional golfer Phil Mickelson. O'Malley's sons and nephews are expected to become "hands on" owners. There are no immediate changes to the baseball operations team known at this time. 

Mike Axisa contributed to this post.

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