The Padres announced that chairman John Moores intends to sell the team. Steve Greenberg and John Moag, who are advising Moores on the team's sale, say the process could take months.
"Three years ago, I made the difficult decision to sell the club, and I didn’t expect to have to make that same decision again,” Moores said in a press release.
The Padres had planned for Jeff Moorad to become the team's controlling partner, but the former agent recently dropped his application after failing to generate enough support from MLB owners. The Dodgers will soon sell for $2.15 billion, which could provide Moores with leverage as he proceeds with the sale.
The Moorad deal falling through was probably the best thing that could have ever happened to Moores. The Padres value just appreciated a few hundred million dollars since the Dodgers were sold.
Are you sure? LA Dodgers sold for a lot because it’s a big market team. San Diego isn’t much of a big market team since their whole fanbase is taken by either the Dodgers or Angels.
actually, the padres dont have much of a fan base at all. here in san diego, dodger and angels fans are a minority as there is a strong cubs, red sox, yankees and san fran fan base
San Diego is a transplant city, most people that live there are originally from somewhere else.
Padres have an incredible fan base. Last season in midst of losing season they had an average of 26,457 attendance, 17th in baseball. The Diamondbacks in the midst of a playoff run didn’t average that many fans at games.
On the road the Padres were the fifth best drawing team. better than the Dodgers OR the Angels.
What a coincidence that the deal fell through shortly after he realized how much new TV money was on the horizon!
So the majority of team owners held up the deal to help him get more TV money?
im not saying this is what happened.. but it could tech make sense… block the sale.. the sale price rises after the TV deal and the dodger sale….. which in-turn makes every other team value go up.
Moores will probably pocket another $150 to $250 mil. He is happy.
So will Moorad and his group. Whatever the team sells for they get 49%.
Yes, they could get a 50% to 75% return on their money in less than 3 years. In addition, Moorad was paying himself about $3.5 mil a year. He owned 12.5% of the Padres – so he will get back about $35 mil on a $15 mil investment. It is amazing how some people make bank when they fail.
San Diego deserves better, that is all.
That’s not true
Dynamite drop it. Shakespearean like.
padres need to get rid of the manager and GM if they are going to evolve beyond being a AAA team
Really? Josh Byrnes (in my opinion) did an excellent job this off-season. Bringing in Cashner, pulling a haul for the Latos deal etc. He impresses me thus far. As for Bud Black, we’ll see.
Agree completely on how Byrnes addressed this off-season. His moves showed a lot of foresight rather then years of reactionary type moves that we were accustomed to under Towers. The trades involving Latos & Rizzo in particular came with both players values being high. Sure Rizzo would have been worth more if he established himself as a big leaguer, but he didn’t wait to trade him after his value greatly diminsihed (see Ben Davis, Sean Burroughs, Dennis Tankersley, etc.). The only time Towers really dealt young talent for the most part was after each players value had plummeted.
I view Buddy in the same light. For over a decade we had a manager with issues with young talent, often times we were stuck seeing established vets, and often mediocre ones at that, play over talented youngersters. Buddy is a great fit for a team set on building through young talent. Not only that, but he’s great at handling pitchers and helping them establish themselves. Not going to double check, but I believe some of the best era’s during the Petco era have come from staff’s under Blacks tutorage, despite the fact they’ve been extremely low cost salarly-wise as a group.
I want to see what that pair can do together over the next 2-3 years.
As usual, I agree with you. Well put!
Agree!
Completely agree. I’m sure Byrnes would still be in Arizona if he hadn’t been so tight with Moorad. He only had one really bad year there and that was because he under valued a good bullpen. From what I’ve seen so far in San Diego he has learned from his mistake. As for Black, he does a very good job with what he is given.
My biggest worry is that with this draft being very important to the future of the Padres, I hope that Moores is willing to put up the funds necessary to sign all of these extra picks. He wasn’t in the past, but lets hope he does the fans of the Padres a favor before he sells the team to a real owner. Byrnes did a good job of drafting while in Arizona and I hope/expect him to keep it up.
Moores has been good for San Diego baseball. 4 playoff teams and a WS team plus a new stadium in the 15 years he was at helm of team. Since Moorad took over things have went downhill at ML level, but that may have more to do with the Moores divorce than Moorad.
San Diego DOES need an involved owner and Moores will never be that again.
ONE TRILLION DOLLARS! (Dr. Evil laugh) MUAHAHAHAHAHAHAHAHAHA!!
Good, maybe they can move the Padres to the AL West and leave my Astro’s in the National League. I hate Bud Selig. Extortionist!!!!
Amen. Crane should offer him $70 million to do just that.
When are Astros fans gonna get over this? Agreed, it’s ridiculous that Crane is pretty much being forced to move, but the Astros could do well in the AL. And I think the Texas-Houston rivalry could really pick up speed with all the extra games they’ll play against each other.
The Astros could do well in the AL? What are you on? If they can’t compete in a weak NL Central, how will they ever contend in a division with two powerhouses (Rangers and Angels), and a team like the Mariners who will be VERY good in a couple of years when Hultzen, Walker, and Paxton arrive?
Houston’s ML roster is in shambles and their farm system ranks among the bottom five in the entire game. They won’t make a playoff appearance in at least five to seven years. And that’s being generous.
I find it funny how MLB was worried about Moorad and his group pocketing money, but by letting him broker the TV deal, Moorad and his group is in line to make over $85 million if the Padres sell for the $700 million that is being reported. Not bad for partially owning a losing team for 3 years. That’s better than the stock market and all made possible by the powers that be.
not to mention…Moorad paid himself over $3 mil a year
If I remember right Crane wanted to move the Astros to the AL West thats why he bought the team. Am I completely insane?
You might be right and you might be completely insane at the same time lol.
From what I’ve read on this site, the sale of the team was held up until Crane agreed to move to the AL, which makes it seem like he didn’t really want to do move.
Come on Portland