Padres Place Jake Cronenworth On IL
The Padres announced today that second baseman Jake Cronenworth has been placed on the seven-day concussion-related injured list. Infielder Sung-Mun Song was recalled to take his place on the roster. The Friars also reinstated left-hander Yuki Matsui from the 15-day IL and optioned fellow lefty Kyle Hart.
The club hasn’t released any details on Cronenworth’s injury, such as how he sustained it or how long they expect him to be shelved. For what it’s worth, he hasn’t been in good form all year. He is currently sporting a .144/.272/.196 line on the season. Ideally, some time to heal up will get him back in good form. He had a strong .246/.367/.377 performance just last year.
His injury will allow Song to get his first real major league action. The Padres signed him this offseason to a four-year, $15MM deal. He got that coming off a strong two-year showing in South Korea, slashing .327/.397/.524 over 2024 and 2025 with the Kiwoom Heroes.
He hasn’t yet had a chance to transfer that kind of production to North America. An oblique issue popped up in January and ultimately put him on the IL to start the year. After he got healthy and completed a rehab assignment, the Padres sent him to the minors in mid-April.
He was briefly recalled when the Padres were facing the Diamondbacks in Mexico City, as the club was allowed a 27th man for that series. Song technically made his major league debut but in about the briefest way possible. He pinch ran for catcher Luis Campusano in the top of the eighth and then was replaced by Freddy Fermin in the bottom of the frame.
Song has a .293/.364/.354 line in Triple-A this year. That looks okay but is actually subpar in the hitter-friendly Pacific Coast League, translating to an 82 wRC+. For what it’s worth, he’s been heating up. He departs El Paso sitting on an eight-game Triple-A hitting streak with a .351/.400/.459 line in that time. That’s a small sample but it’s possible he was just getting into a groove after starting the season injured.
He’s been splitting his time between shortstop, second base and third base. Presumably, Song will take over as the everyday second baseman while Cronenworth is out, though it’s perhaps worth considering the Fernando Tatis Jr. wild card. The Padres have been operating without a real backup middle infielder this season. Cronenworth has been the backup to shortstop Xander Bogaerts while Tatis has been the backup to Cronenworth.
Tatis came up as a shortstop but has been in right field for years. He only had one inning of major league experience at second base prior to this season but has logged 49 frames there in 2026. If the Friars felt comfortable with it, they could try Tatis there more often while Cronenworth is out. Tatis is out to a slow start this year, with a .252/.324/.301 line and no home runs yet, but he has a strong track record and a .275/.353/.504 career line.
The Padres have Ramón Laureano and Jackson Merrill next to Tatis in the outfield most nights. If they were to move Tatis to second from time to time, that would create more opportunities for guys like Miguel Andujar, Gavin Sheets, Nick Castellanos and Bryce Johnson.
Castellanos and Johnson aren’t hitting much right now but Andujar has a .305/.337/.476 line. He has been used mostly at third base and in the designated hitter spot this year but has some corner outfield experience. Sheets is hitting around a league average level while mostly playing first base. If he did play the outfield a bit more, that could open things up for Ty France, who has a .283/.321/.528 line this season.
Perhaps the Padres won’t overthink things, especially with Cronenworth potentially only missing a week. It’s possible they will go the simplest route and just have Song at second for the next little while. He is indeed at the keystone tonight, with Tatis in his usual right field spot.
Photo courtesy of Isaiah J. Downing, Imagn Images
Randy Vásquez’s Hot Start Could Be Huge For The Padres
Rotation depth has been an issue for the Padres for years and the most recent offseason didn’t do much to inspire confidence that 2026 would be an exception. So far, the starting group has been passable, with Randy Vásquez stepping up to play a big role. That has helped the Friars start 20-13 and it could help in future seasons as well if Vásquez can keep rolling.
In 2025, the San Diego rotation was middling. Overall, their starters had a 4.07 earned run average, putting them 16th out of the 30 major league clubs. At the trade deadline, they sent out some depth. They flipped Stephen Kolek and Ryan Bergert to the Royals in the Freddy Fermin trade. Braden Nett and Henry Baez went to the Athletics in the Mason Miller deal. At the end of the season, they lost Dylan Cease and Michael King to free agency. Yu Darvish required elbow surgery in November, wiping out his 2026 season.
They were able to re-sign King but Cease departed for the Blue Jays. The hope was that King, Nick Pivetta and Joe Musgrove could be a solid trio at the front of the 2026 rotation. That would leave two spots open for guys like Vásquez, Walker Buehler, Germán Márquez, Matt Waldron and JP Sears.
That latter group has been leaned on harder than the Padres would have liked. Musgrove hasn’t yet made an appearance this season. He underwent Tommy John surgery late in 2024 and missed the entire 2025 campaign. Getting back in the mix for the start of 2026 was a reasonable expectation but he has hit some setbacks and his timeline is unclear. Pivetta made four starts before he joined Musgrove on the IL. Pivetta has a flexor strain and will probably miss a few months.
As of a few weeks ago, there wasn’t much reason to expect Vásquez to separate himself from the rest of the pack. He did post a 3.84 ERA in 2025, but not in any kind of sustainable way. He only struck out 13.7% of batters faced last year, which isn’t just well shy of average — it was one of the worst marks in baseball. Among pitchers with 130 innings pitched last year, only Antonio Senzatela and Erick Fedde were lower than Vásquez in that category. Both of those pitchers had ERAs well north of 5.00 and lost their rotation jobs last year.
The same likely would have happened to Vásquez if not for good luck. For one thing, he still had options, meaning the Padres could send him to the minors. Though his ERA was good, he did get optioned a few times last year, suggesting the Padres weren’t overly confident in his results. His .261 batting average on balls in play and 77.4% strand rate were both to the fortunate side. Measures like his 4.85 FIP and his 5.43 SIERA suggested his respectable ERA was a mirage.
It would not have been a surprise if Vásquez came out and posted an ERA around 5.00 or 6.00 this year. Since he’s now out of options, his roster spot might have even been in jeopardy. Instead, he’s gone completely in the other direction.
Vásquez has a 2.94 ERA through six starts. Not only that, but this feels more real. His strikeout rate is way up to 24.8% so far this year, almost double where he was at last year. His walk rate and ground ball rate have held around league average. There is still a bit of good luck, as Vásquez currently has an 81.5% strand rate, but his 3.44 FIP and 3.71 SIERA suggest he would be getting solid results even with more neutral luck.
This is still a fairly small sample of work but it’s encouraging that it corresponds to a change in his arsenal, led by improvements with his four-seam fastball. Vásquez is throwing the pitch 31.2% of the time so far this year, a notable jump from last year’s 21% usage. The pitch is averaging 94.8 miles per hour, more than a full mile higher than last year’s 93.5 mph. His spin rate on the pitch is up, and he’s getting more movement on it as well. He has also thrown more cutters, curveballs, changeups and sliders, at the expense of his sinker and sweeper.
Time will tell if Vásquez can keep this going over a larger sample. For now, it has cemented him in the rotation. Griffin Canning just returned from the injured list over the weekend and there was never a question about Vásquez being bumped out, as he and King are seen as the two locks of the rotation for now. Rather, speculation circled around the Buehler, Waldron and Márquez trio, with Márquez eventually placed on the IL as the move for Canning. Lucas Giolito will be in the mix soon as well, but Vásquez won’t be at risk of losing his spot at that point either.
In the longer term, it would also be tremendous for the Padres if Vásquez can be a viable big league starter, even a back-end one. He can still be controlled for four seasons after the current campaign. It’s possible he’ll be a Super Two guy, as his service count of 1.129 will put him right in the middle of previous cutoffs. But even as his salary creeps up via arbitration, it’ll be solid value if he’s got an ERA somewhere in the 3.00s.
The long-term San Diego rotation will still have question marks. King is signed through 2028 but has opt-outs after each season in his deal. If he pitches well, he’ll head to free agency. If he is hurt or not performing and decides not to opt out, that means he’ll be paid above his market value. It’s a similar situation for Pivetta, who is also signed through 2028 with opt-outs after this year and next. Musgrove is currently a question mark. Even if he is able to come back and be his old self, he is only signed through 2027. Giolito, Canning, Buehler and Márquez are all impending free agents. Three of those guys have mutual options for 2027 but it’s been over a decade since one of those provisions was triggered by both sides. Waldron has the same window of club control as Vásquez but he’s out of options and not putting up good numbers, so he may not even last much longer on the roster.
The farm isn’t likely to provide solutions in the near term, as the Friars have been aggressively trading from their pipeline to keep the major league roster in good shape. They now have one of the worst farm systems in the league. Sears is on the 40-man but he had an ERA over 5.00 in the majors last year and is at 7.00 in Triple-A so far in 2026. He’ll be out of options next year. The club’s top starting pitching prospects are Kash Mayfield, Miguel Mendez and Kruz Schoolcraft. Mendez hasn’t yet reached Triple-A and has only made ten Double-A starts so far. Mayfield is in High-A, Schoolcraft in Low-A.
It seems fair to expect the Padres to be looking for free agent starting pitching in future offseasons. Perhaps the incoming ownership group will greenlight some extra spending to bolster the staff, but there are no guarantees about how they’ll spend. Having Vásquez securely in a rotation spot, even if it’s not at the front end, will make the front office’s job much easier as they steer the club into the future.
Photo courtesy of David Frerker, Imagn Images
Padres Activate Griffin Canning
May 3: San Diego officially activated Canning to start today against the White Sox. Right-hander German Marquez went to the 15-day IL in a corresponding move. Marquez is dealing with right forearm nerve inflammation. Chicago tagged him for seven earned runs over five innings on Friday.
May 2: The Padres are planning to activate right-hander Griffin Canning on Sunday, according to Jeff Sanders of the San Diego Union-Tribune. The righty will be making his 2026 and Padres debut in the series finale against the White Sox.
Canning joined the Padres in February on a one-year, $2.5MM guarantee. He underwent surgery last June to repair a ruptured left Achilles, which wiped out the remainder of his season with the Mets. Upon signing with San Diego, it was thought that Canning could be ready for Opening Day, though he ultimately required a rehab assignment at Triple-A. He made his final appearance in that assignment on Tuesday, reaching 68 pitches over five innings. Based on that progression, Canning might be on a pitch limit in his debut before assuming a full starter’s workload next time around.
Although the Achilles injury limited Canning to just 76 1/3 innings with the Mets last year, he showed some improvement over his career numbers. For one thing, he did a better job of keeping the ball in the yard. After surrendering 31 home runs in 171 2/3 innings with the Angels in 2024, or 1.63 per nine innings, Canning cut that to 0.93 HR/9 in 2025. He also showed a marked increase in groundball rate, hitting an above average 50.9% after sitting around average in 2023-24. It wasn’t all positive, as Canning’s 21.3% strikeout rate and 10.7% walk rate were both worse than average. Altogether, though, it was enough for the Padres to sign him to a major-league deal as a back-of-the-rotation arm.
Canning’s arrival could potentially lead to changes in the Padres’ rotation. Michael King and the emergent Randy Vásquez have the first two spots locked in, with Walker Buehler, Germán Márquez, and Matt Waldron rounding out the group. The latter three have not been good so far in 2026. While Buehler’s 5.40 ERA is nearly two runs higher than his 3.42 FIP, his lackluster performance in 2024-25 gives little hope for a turnaround. Márquez and Waldron are similarly ineffective options. Márquez is giving up more than two home runs per nine innings, and Waldron has an unsightly 9.88 ERA in three starts.
If the Padres wanted to stick with a traditional five-man rotation, a case could be made for any one of Buehler, Márquez, and Waldron to get cut based on their performance. However, reports from yesterday indicated that the club may consider a six-man rotation. In that scenario, the trio could hold onto their spots for one or two more turns until the recently-signed Lucas Giolito is brought up from his optional assignment.
Photo courtesy of Jayne Kamin-Oncea, Imagn Images
Latest On Padres’ Pitching Staff
The Padres have weathered their shaky early-season rotation to conclude April with a strong 19-11 record. Their starting pitching group should improve within the next couple weeks, which could lead to some decisions for the front office.
Griffin Canning seems assured of a rotation spot once he’s back from last summer’s ACL tear. Canning has taken five rehab starts with Triple-A El Paso. He got to five innings and 68 pitches on Tuesday. Pitchers can spend up to 30 days on a minor league rehab assignment. Canning began his rehab work on April 4. He could make one more Triple-A start but should be activated by the beginning of next week.
Lucas Giolito isn’t too far behind. The righty consented to an optional assignment to build up after signing a one-year deal on April 22. That came with the stipulation that he be recalled within 25 days. He’ll be on the MLB roster by the middle of May at the latest. Giolito made his second start with Low-A Lake Elsinore tonight, building to 70 pitches over 4 1/3 frames. He may not need the full 25-day window.
None of San Diego’s current five starters can be optioned. Michael King isn’t going anywhere, and Randy Vásquez has nailed down his spot with an excellent April. Walker Buehler, Germán Márquez, and Matt Waldron are the three pitchers trying to hold rotation spots.
Márquez will take the ball tomorrow to open a weekend series against the White Sox. King and Vásquez round out that set. The Friars have not yet listed probable starters for next week’s road series in San Francisco — which would be Buehler’s and Waldron’s turns if they stay on their current schedule.
Buehler has a 5.40 earned run average through six starts. He’s getting ground-balls but has a modest 7.8% swinging strike rate and has only once gone beyond five innings. Márquez will make his sixth start of the year on Friday. He has two scoreless outings but has allowed four runs in each of his three other appearances while struggling with the home run ball.
The knuckleballer Waldron was blown up by the Angels and Rockies in his first two starts of the season. He had a more competitive though unspectacular outing against the Cubs yesterday, giving up three runs over five innings. The out-of-options righty has only fanned eight of 69 opponents (11.6%) since returning from a brief injured list stint.
Jeff Sanders of The San Diego Union-Tribune floats the possibility of the Friars going to a six-man rotation or using openers/tandem starts on days when King doesn’t pitch. They were off today but play on 10 straight days beginning tomorrow. After an off day on May 11, they’ll play nine consecutive games.
Of course, the drawback with a six-man rotation or tandem starts would be the need to drop to a seven-man bullpen. San Diego optioned David Morgan this evening, per the MLB.com transaction tracker. They didn’t announce a corresponding move and seem likely to activate Yuki Matsui from his season-opening groin strain tomorrow. Jeremiah Estrada began a rehab stint this week as well.
The Padres can option Kyle Hart to clear one active roster spot. Their only other optionable reliever (aside from Mason Miller) is hard-throwing rookie Bradgley Rodriguez, who has a trio of holds and has allowed only three runs across 14 1/3 innings. He’d be tough to send down. They’ve held the out-of-options Ron Marinaccio all season. He has allowed 10 runs over 16 2/3 frames in a low-leverage role.
There’s still no defined timeline on Joe Musgrove or Nick Pivetta. The former has yet to resume throwing off a mound after a setback in his recovery from elbow surgery. Pivetta went down with a flexor strain a couple weeks ago and might be months off.
MLBTR Podcast: The Alex Cora Situation, Lucas Giolito Signs, And The Phillies Fire Rob Thomson
The latest episode of the MLB Trade Rumors Podcast is now live on Spotify, Apple Podcasts, and wherever you get your podcasts! Make sure you subscribe as well! You can also use the player at this link to listen, if you don’t use Spotify or Apple for podcasts.
This week, host Darragh McDonald is joined by Steve Adams of MLB Trade Rumors to discuss…
- The Red Sox firing manager Alex Cora and several coaches (0:30)
- The Padres signing Lucas Giolito (27:30)
- The Phillies firing manager Rob Thomson and releasing Taijuan Walker (39:00)
- The Guardians promoting prospect Travis Bazzana (59:45)
Check out our past episodes!
- Kevin McGonigle, The Padres’ Franchise Valuation, And Edwin Díaz To Miss Time – listen here
- Lenyn Sosa Traded, And Injury Concerns For The Astros, Cubs And Orioles – listen here
- Previewing The 2026-27 Free-Agent Class – listen here
The podcast intro and outro song “So Long” is provided courtesy of the band Showoff. Check out their Facebook page here!
Photo courtesy of Troy Taormina, Imagn Images
MLBTR Podcast: Kevin McGonigle, The Padres’ Franchise Valuation, And Edwin Díaz To Miss Time
The latest episode of the MLB Trade Rumors Podcast is now live on Spotify, Apple Podcasts, and wherever you get your podcasts! Make sure you subscribe as well! You can also use the player at this link to listen, if you don’t use Spotify or Apple for podcasts.
This week, host Darragh McDonald is joined by Anthony Franco of MLB Trade Rumors to discuss…
- The Tigers signing Kevin McGonigle to an eight-year extension (1:30)
- José E. Feliciano and Kwanza Jones reportedly having an agreement in place to buy the Padres (13:10)
- Dodgers right-hander Edwin Díaz requiring elbow surgery (27:20)
Plus, we answer your questions, including…
- Are the Braves for real? And what do they do once their injured guys get healthy? (32:20)
- If a salary cap is theoretically implemented, how would it work with the teams currently over the cap? (40:50)
- Can Michael Wacha of the Royals keep up his dominance? (45:50)
- What are the Reds going to do with Matt McLain and TJ Friedl? (48:15)
- Can the Nationals keep up this level of offense? And if so, should they have invested more in this year’s pitching staff? (52:10)
Check out our past episodes!
- Lenyn Sosa Traded, And Injury Concerns For The Astros, Cubs And Orioles – listen here
- Previewing The 2026-27 Free-Agent Class – listen here
- Lots Of Extensions And Big-Picture Topics – listen here
The podcast intro and outro song “So Long” is provided courtesy of the band Showoff. Check out their Facebook page here!
Photo courtesy of Rick Osentoski, Imagn Images
Padres Sign Lucas Giolito
Lucas Giolito‘s protracted 2025-2026 free agency stint has finally ended. The Padres announced that they have signed him to a one-year deal with a mutual option. He’ll receive a $3MM guarantee, with half of that total via buyout on a 2027 mutual option worth $8MM. Giolito can increase the buyout by $3MM based on starts in 2026. There is an additional $2MM in unlockable bonuses tied to awards voting. To make room on the 40-man, the Padres announced that righty Bryan Hoeing has been transferred to the 60-day IL as he recovers from flexor surgery. Giolito will start with Single-A Lake Elsinore and must be on the major league roster within the next 25 days. Giolito is represented by CAA Sports.
For Giolito, his second foray into free agency was not nearly as successful as his first. His 2019 to 2021 run with the White Sox had him positioned as a top-of-the-rotation arm. Among 46 starters who threw at least 350 innings in that time frame, Giolito was sixth with a 30.7% strikeout rate on the back of a fantastic fastball-changeup pairing. His propensity for fly balls (41.7 FB%) and homers (13.7 HR/FB%) possibly prevented “ace” designation, yet Giolito was easily one of baseball’s best pitchers in this time frame.
However, more middling results followed in 2022 and 2023, with the homers especially ticking up in 2023. His 41 big flies were second only to Lance Lynn. Despite a poor platform year by his standards, Giolito and his representatives were able to parlay the showing into a $38.5MM guarantee with the Red Sox over the ’24-’25 seasons, with some additional incentives and player option structure.
Unfortunately, a torn UCL brought his 2024 season to an abrupt halt. An internal brace procedure (which carries a shorter rehab timeline than a traditional Tommy John ligament graft) had him back on the mound at the end of the following April, where he threw 145 innings. ERA evaluators/predictors like xFIP (4.59) and SIERA (4.65) were more bearish on his work than his actual results (3.41). Notably, Giolito’s strikeouts were down from his heyday with the White Sox. He profiled more as a back-of-the-rotation starter than the tremendous upside he flashed from 2019-2021 with Chicago.
Despite a solid return to the rotation, Giolito suffered from flexor irritation and a bone issue at the conclusion of the 2025 season. Although he was set to return to the club after resting, the Red Sox’s early postseason exit meant Giolito had no chance to pitch again before free agency. Under the hood, Giolito looked like a muted version of his best days, but he was a perfectly adequate starter in 2025.
His fastball velocity checked in about a one mile per hour (93.3) lower than his best seasons with the White Sox (94.2), but this was a continuation of a trend started in 2022. Among 82 pitchers who tossed at least 140 innings last season, Giolito was 69th in K-BB%, indicating both below-average ability to miss bats and control the zone. However, he was able to limit homers more effectively than ever before: his 9.3 HR/FB% was below league average, and the first time he recorded a single-percentage mark in a season of 25 or more starts.
Giolito declined his end of a $19MM mutual option (essentially a formality) with the Red Sox for 2026, and it perhaps came as no surprise that the Red Sox passed on extending Giolito a qualifying offer after the 2025 season due to some lingering injury trepidation. He is the last of the MLBTR 2025-2026 Top 50 MLB Free Agents to sign, and comes in far below expectations in years and total guarantee. Even without draft pick compensation attached, Giolito sat on the free agent market well into April, despite some notable playoff aspirants like the Braves, Cubs, and Padres losing multiple starters during Spring Training and the early season.
Speaking of the Padres, the news couldn’t come at a better time. Injuries and slowed recoveries have decimated the top of the rotation over the past few months. Yu Darvish had his second UCL surgery after the playoffs concluded in early November. Darvish is currently rehabbing on the restricted list away from the team and has reportedly considered retirement. Joe Musgrove, recovering from his own Tommy John surgery back in October 2024 and expected to open the season in the rotation, has had his rehab interrupted and was placed on the IL to open the season. 2025 workhorse Nick Pivetta hit the IL after four starts with a flexor strain. Surgery is not currently on the table, but given the recurrence of the strain (Pivetta also hit the IL for a short period in 2024 with the same issue), the Padres will give Pivetta ample time to rest his ailing arm in the hopes of having him available for a postseason run.
These injuries have thinned the depth of the rotation considerably in San Diego. Juan Soto trade returns Michael King and Randy Vasquez are providing quality innings, but the back of the rotation has shown mixed results to this point. Walker Buehler, though a far cry from his Dodgers’ peak, is looking like he still might have something left in the tank. Former Rockies All-Star German Marquez has a 3.86 ERA but less exciting numbers under the hood. Knuckleballer Matt Waldron was hit hard in his 2026 debut.
All three back-end starters have struggled to give the Padres consistent innings at the back of the rotation. Seven of the Padres’ first 23 games have had a starter fail to record an out in the fifth inning. Though Griffin Canning is on the horizon while working through a Triple-A El Paso rehab, the Padres decided that it was worth fortifying the rotation depth for the summer ahead.
Giolito’s contract stipulation for a Major League recall within the next 25 days would put him in line for a mid-May debut. This should give him four turns through the rotation to build up his arm after missing all of Spring Training. Should the rotation remain healthy after Canning joins, the Padres will have some decisions to make. As MLB veterans with ample service time, Buehler and Marquez can’t be optioned without their consent. Someone may end up in the bullpen or pushed off the roster entirely, depending on future health.
For now, San Diego will be happy to kick the roster-crunch can down the road. It’s an affordable, low-risk signing of an MLB-quality arm that could help the team weather the injury storm. The deal is much in the vein of recent similar signings by PBO/GM A.J. Preller. Operating under some payroll constraints after the death of former owner Peter Seidler and the imminent sale of the club, Preller has prioritized creative, low-dollar guarantees to Pivetta, Marquez, Buehler, and now Giolito to minimize the CBT hit (the Padres are currently in the first luxury payor tier). For his part, Giolito gets the opportunity to pitch for a potential contender with a recent record of rehabilitating starting pitchers’ value as he looks to surpass his 2025 platform year for a better offer next offseason.
Jon Heyman of the New York Post was the first to report the $3MM guarantee and the $2MM in awards bonuses. Ari Alexander of 7News Boston WHDH had the $1.5MM salary and buyout on the $8MM mutual option plus the $3MM in escalators. Kevin Acee of the San Diego Union-Tribune had the details on the initial minor league assignment and recall stipulation.
Latest On Padres’ Franchise Sale
Last week, The Wall Street Journal reported that the Seidler family was nearing a sale of the Padres to private equity mogul José E. Feliciano and his wife Kwanza Jones. That’s expected to come with an eye-popping $3.9 billion valuation that’d shatter the prior high for a franchise sale ($2.4 billion in Steve Cohen’s 2020 purchase of the Mets).
Feliciano and Jones aren’t actually putting up nearly $4 billion, however. Dennis Lin and Mike Vorkunov of The Athletic report that Feliciano and Jones will purchase a 30-40% ownership share. That’d put their investment between $1.17 billion and $1.56 billion. Their exact stake has yet to be determined as they bring aboard additional minority investors. Lin and Vorkunov write that some members of the Seidler family will retain minority shares. Some current minority investors will retain their own stakes.
Padres fans are encouraged to give The Athletic column a full read, as Lin and Vorkunov identify a handful of individuals who might join Feliciano’s ownership group. The most important detail remains unchanged. Feliciano will become the organization’s control person. That’s true even though he’ll own less than 50% of the team, as he’ll hold the plurality share.
The team has yet to officially announce the agreement, though current control person John Seidler had made no secret of the family’s desire to sell. Once the details on the minority investors are sorted out, they’ll need formal approval from at least three-quarters of other ownership groups. That’s essentially a formality. The next quarterly owners meeting is scheduled for June, though they could opt for a virtual vote to expedite the process.
Seidler Family Nearing Deal To Sell Padres To José E. Feliciano
The Seidler family is nearing a deal to sell the Padres to a group led by private equity billionaire José E. Feliciano and his wife Kwanza Jones, per Jared Diamond and Miriam Gottfried of the Wall Street Journal. The deal values the Padres franchise at close to $3.9 billion, which would shatter the previous record for a big league franchise in a sale. Steve Cohen’s $2.4 billion purchase of the Mets in 2020 currently stands as the record.
Dennis Lin of The Athletic reported yesterday that the sale process was nearing its conclusion, suggesting that the Seidlers could find a price upwards of $3.5 billion. Per the Wall Street Journal duo, San Diego received multiple bids valuing the franchise at more than $3.5 billion. In addition to Feliciano’s group, the three finalist bidders were groups led by Golden State Warriors owner Joe Lacob, Detroit Pistons owner Tom Gores, and Dan Friedkin, who owns the English Premier League’s Everton club.
Feliciano himself is the majority owner of the EPL’s Chelsea F.C. He’s also the co-founder of Clearlake Capital, a private equity firm with more than $90 billion of assets under management and a focus on the technology, industry and consumer sectors. Jones is the founder and CEO of Supercharged, a media company based in Santa Monica.
Padres ownership has been in a state of relative tumult since late owner Peter Seidler passed away in November of 2023. Seidler’s willingness to spend at aggressive levels well beyond prior iterations of Padres ownership ushered in a new era of baseball in San Diego — one that saw the Friars emerge as perennial contenders and major players in free agency. From 2009-14, the Padres ranked in the bottom six MLB teams in terms of payroll each season. Under Seidler’s watch, payroll soared to north of $200MM, including a record $249MM Opening Day payroll in 2023. The Friars have run a $200MM+ Opening Day payroll in four of the past five seasons.
Since Peter’s passing, there’s been infighting among his widow and siblings. Sheel Seidler, Peter’s wife, filed suit against his brothers Bob and Matt Seidler, alleging that they breached fiduciary duty and committed fraud as successors to his trust. She accused them of selling assets to themselves at below-market prices in an effort to consolidate control of the franchise. Matt countered by accusing Sheel of “manufacturing claims” to secure control of the franchise herself. The allegations were never litigated in full; Sheel’s claims were settled outside of court earlier this year.
In the meantime, Peter’s other brother, John, was approved as the franchise’s new control person in February of 2025. John announced last November that his family had begun “a process of evaluating our future with the Padres, including a potential sale of the franchise.” In the months to follow, as many as five serious bidders emerged. The Feliciano, Lacob, Gores and Friedkin groups were the final four, it seems.
It bears emphasizing that nothing has been finalized just yet. Diamond and Gottfried report that an official announcement could come early next week, however. Even after the deal is agreed upon, Feliciano and Jones won’t immediately take over control of the club. They’ll still need to be approved by 75% of the league’s other owners at the next MLB owners meetings in June. Lin, Ken Rosenthal and Britt Ghiroli of The Athletic add that the final net amount of the deal will need to factor in the approximately $300MM of debt the franchise has accrued. Regardless, it’ll be a record-shattering agreement if the proposed agreement is pushed across the finish line next week.
Time will tell precisely what the ownership transition means for future iterations of the Padres. Eye-popping sticker price notwithstanding, there’s no guarantee that Feliciano and Jones will have the same appetite for spending as their late predecessor, Peter Seidler.
Even in the two years since Peter’s untimely passing, payroll has been scaled back to an extent. The Padres have trotted out $200MM+ Opening Day payrolls in each of the past two seasons, placing them in the top-10 of the league in both instances, but that’s a ways removed from the team’s franchise-record $249MM mark set in 2023. In each of the past two offseasons, reports have surfaced about some degree of financial limitations for president of baseball operations A.J. Preller.
San Diego has made one notable free-agent acquisition in each of those offseasons — Nick Pivetta last year, Michael King this year — but the rest of their additions have all been much smaller in scale. Even Pivetta’s four-year, $55MM contract required a creative structure that paid him only $4MM in 2025 before his salary jumped to $19MM in 2026. The final two seasons of the deal are player options, giving him the right to opt out at season’s end (though his recent injury could very well sway him to forgo that opportunity).
While there are instances of new ownership prompting a radical uptick in spending — e.g. Cohen’s purchase of the Mets and Peter Seidler’s rise from minority stakeholder to majority owner of the Padres in 2020 — that’s certainly not true in every instance. The Orioles have spent more under David Rubenstein than under John and Lou Angelos, for instance, but haven’t pushed payroll beyond the levels previously established by the late Peter Angelos (John and Lou’s father). Jeffrey Loria’s sale of the Marlins to Bruce Sherman hasn’t pushed Miami out of the perennial payroll cellar. The Royals’ payroll under current owner John Sherman, who purchased the team for $1 billion in 2020, hasn’t been all that different than it was under former owner David Glass.
Regardless of what happens with club payroll, the new ownership group should bring about some stability and continuity, ending the tumultuous uncertainty that has surrounded the club over the past few seasons. And the colossal sale price for the franchise — further evidence of the game’s broader financial health — figures to be a number that is routinely cited in upcoming labor talks between the league and the Players Association as the 2022-26 collective bargaining agreement nears its conclusion on Dec. 1.
Padres’ Sale Nearing Conclusion
The Seidler family’s sale of the Padres franchise is nearing a conclusion, reports Dennis Lin of The Athletic. Four finalist groups of bidders remain in the mix, and the sale price could approach a record $3.5 billion, per the report.
A sale of the franchise has been in the works since November. At the time, chairman John Seidler announced that his family had “decided to begin a process of evaluating our future with the Padres, including a potential sale of the franchise.” As of February, five bidding groups were in the mix. That’s down to four, with Lin listing a quartet of groups led by Detroit Pistons owner Tom Gores, Golden State Warriors owner Joe Lacob, and a pair of English Premier League owners: José E. Feliciano (Chelsea) and Dan Friedkin (Everton). The identities of all four lead investors in those bidding groups were already known, but it’s notable that there are still four strong bidders with existing interests in professional sports teams.
Padres ownership has been in a tumultuous state for more than two years now. Late owner Peter Seidler, who had an aggressive willingness to spend, passed away in November of 2023. His brother, John, was eventually approved by the league’s other owners as the team’s new control person, but not before some legal in-fighting among the family.
Peter’s widow, Sheel Seidler, sued two of her brothers-in-law, Matt and Bob Seidler, alleging that they had breached fiduciary duty and committed fraud as successors of their late brother’s trust. Sheel Seidler accused Matt and Bob of selling assets to themselves at “far” below-market prices as they attempted to consolidate control of the franchise. Matt vehemently denied the allegations in a formal statement, wherein he accused Sheel of “manufacturing claims” against other trustees in an effort to secure control of the franchise herself. Sheel Seidler’s suit was largely settled outside of court back in February, paving the way for the family to accelerate efforts to sell the team.
Anything north of $2.4 billion would set a new record for the largest sale of a franchise in MLB history. Steve Cohen’s $2.4 billion purchase of the Mets from the Wilpon family back in 2020 currently stands as the all-time record. Forbes ($1.9 billion) and Sportico ($2.3 billion) have pegged the Padres’ estimated franchise value considerably south of the $3.5 billion sum referenced by Lin, though the San Diego Union-Tribune reported back in February that the Seidler family was likely to seek a price far greater than those valuations in order to sell the club.