Jeff Moorad has stepped down as the Padres' CEO, the team announced. President and COO Tom Garfinkel will assume CEO duties on an interim basis, while Moorad will stay on as vice chairman and oversee the Padres' relationship with FOX Sports San Diego.
Moorad recently dropped his application to become the controlling partner of the Padres. He had two years remaining to complete his purchase of the team, but he appeared to be having trouble winning over MLB owners and obtaining their support. In the meantime, John Moores still owns the club.
One club source told Dan Hayes of the North County Times (via Twitter) that Garfinkel has been running club all along and the move doesn't hurt the club in terms of stability or strength.
Fail
Well that about sums up the Padres history. Something looks good then fails. Why on earth did the commish allow this to take place is beyond me. First you allow the sale to be done over time, then as its ready to be competed you allow other owners to pull the plug.
I guess we will have to wait and see how this effects the Padres, thought I doubt it will have much to do about day to day operations.
You are assuming that Selig is aware that there is a professional baseball team in San Diego.
Maybe Selig should have put the Padres onboard the KittyHawk and sailed them out when the navy Sent it from San Diego and mothballed/decommissioned it. Both spent to much time there it seems. 1 (the Hawk) after it was antiquated by other Navies and the Padres with no fan base. Selig must be looking for some sugar daddy to dump millions and prop that team up beyond it’s means and it’s really the same thing…
I feel bad for Padres fans and that’s coming from an Oriole fan ;)
Only thing worse would be a Pirates fan showing the Pads some pity.
Thanks AlKelz….We have had some bad ownership issues in the past (Werner & Company) but this fiasco is about as embarrassing as it gets. Only thing that could make this worse is if Josh Macciello tried to buy the team. Ouch!
Carlos Slim should buy the team, perfect fit.
that is actually a good idea
Time to pack up the cammies!
What is the criteria to be an MLB owner?
Spend a ton of money on the draft? No wait, Moorad did that.
Raise payroll annuallly to a comfortable level that won’t bankrupt the team? No wait, Moorad did that.
Add payroll when your team is making a magical playoff run and the fans still aren’t showing up? No wait, Moorad did that.
Have all of the remaining funds that you owe to purchase your team in escrow just waiting to be handed over to a guy who wants nothing to do with the team your buying? No wait, Moorad did that too.
Oh no I know, don’t be a former agent who has other owners holding personal vendetas against you.
Unless something comes out in the following weeks that totally shows that Moorad is a fraud this is a bad day for the sport. He was part owner of the DBacks and when he left, that franchise was/is in pretty good shape and he has now helped transform the Padres from an also ran into a franchise that could contend for years if everything works out right. If Moorad is stepping down for the good of the franchise, I commend him. If he is stepping down just because Selig and his cronies don’t want him to be in their “boys club”, then I wish he had just stayed the course and made life as miserable for them as I’m sure he is feeling right now.
Just when things start turning around for the Padres, the league has to step in screw it all up.
Like you – I am really confused by this. I haven’t seen anything egregious with Moorad.
I was born and raised in SD. Lived there until 7 years ago. I suffered through far worse ownership than Moorad.
The biggest issue was an agreement between Moorad and his investors to return almost all of the money being fronted to the Padres in the Fox deal to those investors instead of putting that $150 million into the team.
Also remember that Moorad didnt do the things you mentioned, the Padres with John Moores as majority owner, did those things.
What did Moores do? Never invest money in the draft? Check. Let ever decent player leave via free agency after the ’98 season? Check. Bamboozle the fans and the city into building a new stadium? Check. Now that Moorad has overseen a reconstruction of the team from the ground up and gotten a TV deal that will actually help the franchise in the future, he wants to sell to someone else because the franchise is worth more than when he was running it into the ground 3 years ago. Check.
I’m not quite sure what Moores did that you think was so great, but Moorad at least has a little foresight.
I’m sorry to hear this Mr. Moorad, you and your front office have done a great job since taking over the Padres.
If what I am reading elsewhere is true and Moores didnt’ even vote for Moorad, could it be that the Padres have recently been valued at a much higher number than they were when Moores first began the sales process and now after years of the team being ran by someone who knows something about baseball Moores wants more money.
It is also being rumored that Moores may take over as full owner again, say goodbye to the farm system Padre fans. It is very obvious from Kevin Towers first draft in Arizona that he wasn`t the reason the Padres continually failed at the draft table.
You may not have hit the nail on the head “exactly” but are pretty close to some real issues going on here. the recent increased club values have inflated the Padres value to over $495 million and Moores likely is not eager to part with a team on the verge of real profitability. Especially in light of the fact a serious cash group just up the road will be available after lsoing out in the Dodgers bid.
If not for KT being a wizard when it comes to trades the Padres would have been the Pittsburgh Pirates under Moores’ ownership. He wouldn’t dole out money for the draft and that is the only way the Padres can/will ever compete. Moorad has done more for the Padres in 3 years then Moores did in 10. Good job MLB, why have an owner who has some foresight and wants to make a little money on the side(Moorad), when yo ucan have an owner who has no clue how to run a baseball team and wants to pocket money.
A little off topic, but why are the only companies in the World where the owner profitting from their business being a bad thing is professional sports? I work for a company that grossed over a billion dollars last year and I’m not living in a mansion, but my boss is. This whole, Moorad wanting to take revenue for himself and his partners being a bad thing is ridiculous. No owner wants to throw money away and that is why they are in the position to own baseball teams and not just pay to watch like the rest of us.
The Padres team value is closer to 458-480 million with the team still holding $200 million in debt.
If the new TV contract is ratified all parties will undoubtedly get more money than they have into the team including Moorad.
I believe that Moores is required to sell as a condition of his divorce. Those of you in San Diego can go down and look at that paperwork at the court. Its public record.
Everything I am hearing is that the Padres will be sold to a 3rd party with Moorad and his partners being bought out along with Moores.
MLB owners playing hard to get, eh?
I hope you choke on your Metamucil, Selig.
This really sucks hey Drew. I know your a Padre fan and the league may as well have torn my heart out today. Moorad has done more for the Padres then any owner in their history, other than Ray Kroc. To make a guy who seemed to want to bring a winner to town, while making a little money, just quit because of all the political agendas of other owners is sad, not only if you are a Padre fan, but if you are a fan of baseball in general.
I love the Padres, but this is a black day in their history.
I only started following the Padres in 2007, so unfortunately, I know little of the Ray Kroc years besides the fact that he saved baseball in San Diego.
I feel for Moorad, he seemed to be doing great, or at the very worst, seemed to be hiring/maintaining all the right guys. I hope whoever comes to SD’s aid has the foresight to keep current management intact.
Adrian Gonzalez can buy the team with his big fat contract the Sox gave him. Now that would just be salt in the wounds.
Coming to Cubs… jk
Moorad use to be an agent. A lot of owners hate Moorad just like they hate Boras. The White Sox owner in particular has a vendetta against Moorad. This is all only another reason why this is happening.
For the record Moores isn’t as bad as people think. He was willing to pay for Weaver but KT made the call on drafting Matt Bush on his own.