Seidler Family Weighing Five Offers For Padres
February 27th: Lin provided an update today, clarifying that Kudla and Brees did not submit a formal bid but are considering partnering with one of the other bidding groups.
February 26th: The Seidler family’s efforts to sell the Padres appear to have accelerated in recent weeks. Sheel Seidler, widow of former Padres owner Peter Seidler, dropped or settled most of her litigation against Peter Seidler’s brothers earlier this month. That cleared the way for the family to ramp up a sales process that began in November.
Kevin Acee of The San Diego Union-Tribune reports that five prospective buyers have submitted bids. Previous reporting had identified Joe Lacob, José E. Feliciano and Dan Friedkin as suitors.
Lacob, the owner of the NBA’s Golden State Warriors, had previously shown interest in buying the Angels and Athletics. Feliciano is a Santa Monica-based private equity mogul whose firm is a lead owner of the English Premier League team, Chelsea F.C. Friedkin was born in San Diego but is now based out of Texas. He has various business interests and also owns a Premier League club, the Liverpool-based Everton F.C.
Most American sports fans will be more familiar with another potential buyer. Dennis Lin and Ken Rosenthal of The Athletic reported this afternoon that Hall of Fame quarterback Drew Brees has partnered with Vuori CEO Joe Kudla to make a run at buying the franchise. Vuori is a San Diego-based clothing company that specializes in athleisure. Brees played the first five seasons of his career with the Chargers.
Assuming Lacob, Feliciano, Friedkin and the Kudla/Brees groups have made offers, that’d be 80% of what seems to be the remaining field. The identity of the final bidder isn’t known.
Earlier this month, Sportico estimated the franchise value around $2.31 billion. It seems the Seidler family is aiming a fair bit higher. Acee writes that people within the industry anticipate the sale price will land north of $2.5 billion. Rosenthal and Lin report that the Seidlers are seeking a purchase price closer to $3 billion than to the estimation from Sportico.
Anything north of $2.5 billion would be a record for an MLB franchise. Steve Cohen’s 2020 purchase of the Mets from the Wilpon family was for roughly $2.475 billion. That remains the high-water mark. More recent sales of the Orioles and Rays have landed in the $1.7 billion range. Peter Seidler’s group purchased the Padres for $800MM in 2012. The reports from the Union-Tribune and The Athletic — each of which are worth a full read for San Diego fans — suggest an agreement could be reached around Opening Day.
Latest On Padres’ Ownership
The legal battle which has been hovering over the Padres for the past year-plus moved a bit closer to resolution this week. While it’s not over the finish line, it appears the club took one step toward closer to potentially being sold. Various details were provided by Dennis Lin of The Athletic, Eben Novy-Williams, Kurt Badenhausen and Scott Soshnick of Sportico, as well as Kevin Acee of the San Diego Union-Tribune.
Interested readers are encouraged to read those pieces in full to get all of the pertinent details. The key takeaway is that Sheel Seider, widow of Peter Seider, has dropped many of the claims in her lawsuit against Peter’s brothers. The two sides of the lawsuit have reached agreement on many of the claims, with the exceptions of those related to trust distributions and demand for accounting.
After Peter died in November of 2023, his stake in the team was placed in a trust. Eric Kutsenda, a business associate of Peter’s, was made the club’s control person on an interim basis. Teams are often owned by many people but MLB designates one individual the control person to represent the team in league matters. Peter’s brother John Seidler was reportedly set to be named control person in December of 2024. Two of Peter’s other brothers, Matt and Bob, remained involved in his trust.
In January of 2025, Sheel filed suit against Matt and Bob, seeking to be named control person of the franchise. The suit claimed that Peter wanted control of the franchise to eventually pass to his young children, with her steering the franchise in the interim. The suit accused Peter’s brothers of various types of malfeasance to take control of the club, including selling themselves assets at below-market prices, and to eventually sell it. Matt then filed a response with a counter narrative, saying that Peter never listed Sheel as a trustee despite amending his trust multiple times and that many transactions had been made to her benefit.
MLB approved John as control person on February of 2025. In November of 2025, the Padres announced that they would be exploring a sale of the club, despite no signs of progress with the dispute. As mentioned, this week’s news seems to represent progress, but with some hurdles remaining.
Acee reports it’s likely that a sale will not take place until full resolution of the legal matters. That’s a situation with some recent precedent in Major League Baseball. After the death of Orioles’ owner Peter Angelos, his surviving family members engaged in a similar fight for control, also involving lawsuits. Those suits were dropped in February of 2023. Later that year, it was reported that David Rubenstein was in talks to buy the club, which he eventually did.
Sportico identifies Jose E. Feliciano and Dan Friedkin as two people interested in buying the club. Feliciano’s investment firm Clearlake Capital was part of the BlueCo consortium which bought the English Premier League club Chelsea in 2022 for roughly $3 billion in USD. Forbes estimates Feliciano’s net worth to be $3.9 billion. Clearlake reportedly has about $90 billion under management. Mark Walter, Dodgers’ control person and chief executive officer of Guggenheim Partners, was also part of BlueCo.
Friedkin also owns a Premier League club, having purchased Everton in 2024 for an undisclosed price. He also owns the Serie A club Roma. Forbes estimates his net worth to be just under $9.9 billion. He was born in San Diego in 1965.
Joe Lacob is also identified as someone with interest by all three articles linked above. Lacob has been connected to various MLB clubs in the past, including the Athletics and the Angels. He owns the NBA’s Golden State Warriors and the WNBA’s Golden State Valkyries. Forbes estimate his net worth to be $2.3 billion.
Forbes calculates the value of the franchise at $1.95 billion. Sportico comes in a bit higher at $2.3 billion. This week’s reporting suggests the Padres are likely to seek far more than that, with Acee reporting the team likely values itself in the $2.5 to $3 billion range. If they can get anywhere close to that, it would be a record. The largest sale of an MLB club to date is the $2.4 billion Steve Cohen paid to buy the Mets.
It’s possible that a sale could provide some greater certainty about the future of the club in a few areas. The player payroll peaked in 2023, with Cot’s Baseball Contracts putting the Friars at $249MM that year, but has been at a lower tier since then.
That has seemingly played a role in some transactions. Juan Soto‘s final year of club control was traded to the Yankees, with younger and cheaper players coming back in return. The Friars signed Nick Pivetta last year but backloaded it significantly, with Pivetta only getting $4MM in the first year of a four-year, $44MM deal. With the cheapest year now completed, he has been in trade rumors this winter.
The person making the decisions about those transactions is president of baseball operations A.J. Preller, who has been running the San Diego front office since 2014. There has been some reported tension between him and the new guys running the team. Despite the club being fairly successful on the field, Preller is going into the final year of his contract and rumors of extension talks haven’t led to a new deal, putting him in lame duck status for 2026.
Photo courtesy of Chadd Cady, Imagn Images
Seidler Family Exploring Potential Sale Of Padres
The Padres announced Thursday that the Seidler family, which has owned the majority stake in the franchise since 2012, will explore “strategic options” for the team, including a potential sale of the franchise. Kevin Acee of the San Diego Union-Tribune reported the potential sale just minutes before the team’s formal press release.
“The family has decided to begin a process of evaluating our future with the Padres, including a potential sale of the franchise,” chairman John Seidler said within this morning’s announcement. “We will undertake this process with integrity and professionalism in a way that honors [late chairman Peter Seidler’s] legacy and love for the Padres and lays the foundation for the franchise’s long-term success. During the process and as we prepare for the 2026 season, the Padres will continue to focus on its players, employees, fans, and community while putting every resource into winning a World Series championship. We remain fully committed to this team, its fans, and the San Diego community.”
It’s been nearly two years to the day since the untimely passing of late Padres chairman Peter Seidler, who passed away at just 63 years of age. His brother, John, was approved as the team’s control person earlier this year.
That appointment came after a monthslong legal battle wherein Peter’s widow, Sheel Seidler, filed suit against 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 of his own, wherein he accused Sheel of “manufacturing claims” against other trustees in an effort to secure control of the franchise herself.
To this point, Sheel’s lawsuit has yet to be litigated in full. If it reached that point, it’d presumably be a yearslong process. There’s no indication that the parties have settled the suit outside of court, either.
At this juncture, it’s not yet known whether the Seidler family will sell the majority stake or seek new minority investors. Acee reports that one minority owner, who owns a roughly 10% stake in the team, is in the process of selling his stake in the club. Whether there will be larger portions available remains to be seen and is surely in part dependent on interest. Acee’s report also indicates that the preliminary $1.8 billion valuation of the franchise includes around $300MM in debt and “more than $150 million in paybacks to owners for two cash infusions made in recent years.”
As we recently saw with the Twins, who had a reported $425MM in debt while they attempted to sell the franchise for around $1.7 billion, that level of debt can prove a major obstacle in finding a buyer. The Pohlad family ultimately opted not to sell the Twins franchise, instead bringing in two new minority stakeholders whose investments in the club (coupled with an aggressive deadline fire sale) helped to clear that debt.
While the current ownership landscape is rather tumultuous, the Padres should still be in a position to command considerable interest. Both Forbes and CNBC have reported the team to be profitable. They’ve set franchise attendance records in three straight seasons and ranked second in the National League in terms of attendance this season — thanks in part to a lack of competition in terms of major sports teams in the market — but still enjoy the benefit of receiving revenue-sharing funds due to the size of their market. In that sense, even with that notable debt and some infighting among the current owners, the Padres have many points working in their favor if the Seidler family does choose to pursue a sale of the majority stake.
Acee further reports that even as the team explores a potential sale, one source described the team’s baseball operations as “business as usual,” adding that payroll will be in the same general range as in 2025. The Padres opened the 2025 season with a payroll of nearly $210MM and tacked on a few million more over the course of the season. RosterResource currently projects a $201MM payroll, though that’s before any potential non-tenders or trades from the big league roster.
The Padres were far more free-spending under Peter Seidler’s watch than they have been since his passing. “Business as usual,” in that sense (coupled with a repeat of the 2025 payroll), seems to suggest that San Diego will need to explore creative deals to address various holes on the roster. The Padres have utilized complex contract structures (e.g. Nick Pivetta‘s backloaded, opt-out-laden four-year contract) to keep payroll in what current ownership deems an acceptable range. They’ve also worked aggressively on the trade market to find low-cost options at areas of need (e.g. catcher Freddy Fermin, closer Mason Miller) — but in the process have further depleted an already thin farm system. They’ll now look to fill multiple rotation holes and perhaps add a bat without much in the way of financial flexibility.
Further cementing the notion that the status quo will be maintained, at least from a baseball operations standpoint, Acee writes that John Seidler and president A.J. Preller have been discussing a contract extension which could be finalized in the near future. Preller is entering the final season of his most recent contract extension. He’s been running baseball operations in San Diego since 2014. Readers are highly encouraged to read Acee’s piece in full, as it contains more granular details about the current financial structure of the ownership group and quotes from various anonymous sources on the possibility of a sale and the long-term outlook of the club.
NL West Notes: Graveman, Seidler, Murphy
Diamondbacks right-hander Kendall Graveman has been battling some back tightness in camp and still hasn’t appeared in a Spring Training game. Manager Torey Lovullo tells Alex Weiner of Arizona Sports that the issue cropped up again yesterday after throwing live batting practice. Weiner relays that Graveman appears to be questionable for Opening Day.
The Snakes signed Graveman to a one-year, $1.35MM deal less than a month ago. The modest price is a reflection of the fact that Graveman missed the 2024 season recovering from shoulder surgery. The D’Backs have made a modest bet that he could bounce back to his pre-surgery form. From 2021 to 2023, he tossed 187 1/3 relief innings with a 2.74 earned run average, 24.5% strikeout rate, 10.4% walk rate and 48.9% ground ball rate.
If healthy, Graveman would be one of the club’s key leverage relievers, alongside guys like A.J. Puk, Kevin Ginkel and Justin Martínez. This back issue doesn’t seem to be a major concern but isn’t the ideal way for him to start down the comeback trail. Opening Day is still two weeks away, which gives him some time, but it will be a situation to watch for the Diamondbacks and their fans.
More notes from around the National League West…
- John Seidler is now officially the control person of the Padres, reports Dennis Lin of The Athletic. The brother of the later Peter Seidler, John was approved by the league as control person over a month ago. Despite the league approval, it was noted at that time that the transfer would not become official until all the paperwork was complete on John becoming the trustee of Peter’s trust. Lin relays that the process with the trust is now complete, making John the official control person. After Peter’s death, the duties of control person were handled by his previous business partner Eric Kutsenda on an interim basis. There is an ongoing legal dispute over control of the club in the wake of Peter’s passing, with his widow Sheel filing suit against his brothers.
- Giants catcher Tom Murphy continues to be on the shelf. The club informed reporters, including Justice delos Santos of The Mercury News, that Murphy would require another epidural injection this week. He’ll be doing rehab only for the next two weeks, meaning no baseball activities. That makes him a lock for the injured list to start the season. That’s not a shock, since it was reported in late February that he has a herniated disc in his mid-back area and would be getting an epidural injection that would sideline him for weeks. He’s now getting a second shot and is still not close. Murphy has flashed a potent bat in his career but injuries have often stood in the way. He has nine MLB seasons but only appeared in 50 or more games in two of those. The Giants have Patrick Bailey as their primary catcher. With Murphy out, the backup job could fall to Sam Huff. Non-roster options in camp include Logan Porter and Max Stassi.
MLB Owners Approve John Seidler As Padres’ Control Person
John Seidler, the brother of late Padres chairman Peter Seidler, was unanimously approved as the team’s new control person in a vote among the league’s other 29 owners, Kevin Acee of the San Diego Union-Tribune reports. The move will become official once the paperwork naming John the trustee of Peter’s trust is finalized in about a month’s time, Acee adds.
Padres ownership has been embroiled in a legal battle in recent months, as Peter’s widow, Sheel Seidler, has filed suit against her late husband’s brothers, alleging that they’ve breached fiduciary duty and committed fraud as successors of Peter’s trust. Sheel Seidler accused brothers-in-law Matt and Bob Seidler of selling assets to themselves “far” below market prices in an effort to consolidate control of the franchise and of violating Peter’s wishes that she serve as interim control person of the club before passing ownership onto the couple’s children at a later date.
Matt Seidler contested the suit in a formal response wherein he accused his sister-in-law of attempting to “manufacture claims against the Trustees in pursuit of the control that Peter intentionally chose not to give her.” Per Matt’s response, the trust has made numerous transactions, totaling tens of millions of dollars, benefiting Sheel and her children.
Sheel’s attorney suggested in a statement that the Seidler brothers have no evidence to support claims of wrongdoing by his client: “It’s ironic that they accuse Sheel — Peter’s wife of two decades and the mother of his three children — of misusing his assets, while at the same time they have reaped the benefits of Peter’s generosity for decades. The fact is, we will win in court because the defendants have shown they have no case.”
To date, Matt’s formal response to Sheel’s lawsuit is the only on-record comment provided by any of the brothers. John was not present for and has not issued comment on today’s vote. While John has now been approved by the league’s other owners, it remains possible that the forthcoming legal battle could yet impact the team’s ultimate ownership outlook. Any timeline on a resolution is impossible to predict. If the case is litigated in full and not settled outside of court, it could prove to be a yearslong process.
Padres Notes: Morejon, Machado, Ownership
With Spring Training just around the corner, the Padres held their annual FanFest event yesterday and the impending return of baseball was a hot topic. With trade rumors surrounding right-handers Dylan Cease and Michael King while veteran Joe Musgrove figures to miss the entire 2025 campaign after undergoing Tommy John surgery in October, the club’s rotation has been under particular scrutiny in recent weeks.
However, the Padres end up filling out their rotation come Opening Day, one potential candidate to start has been eliminated at this point: left-hander Adrian Morejon. According to a report from Jeff Sanders of the San Diego Union-Tribune yesterday, club manager Mike Shildt spoke about Morejon’s place on the roster yesterday and gave the lefty a vote of confidence in a relief role.
“Adrián has found a really nice niche in the bullpen,” Shildt said, as relayed by Sanders. “It’s a spot that we think he’s not only going to do as well as he did last year, but take the next step and he’s excited about remaining in the bullpen and just being a dominant guy in that spot.”
That’s a bit of a reversal from earlier this winter, when Morejon was among a handful of relievers identified by president of baseball operations A.J. Preller as potential rotation converts. Moving players from the bullpen to the rotation has become quite popular around the game in recent years, and Preller’s decision to sign Seth Lugo as part of the club’s rotation mix and Lugo’s subsequent transformation into a bona fide top-of-the-rotation arm was a catalyst for that growing popularity.
Morejon was as sensible a candidate for such a conversion as any given his history as a starting pitcher in the minor leagues, though given that 2024 was Morejon’s first healthy season as a big leaguer it’s understandable that the club has decided to keep him in the bullpen rather than risk more injuries by stretching him out. Stephen Kolek and Bryan Hoeing have also been discussed as potential converts to the rotation, but it remains unclear whether that’s still on the table for them entering camp or if, like Morejon, the Padres plan to keep them in relief roles for 2025. It’s even possible those decisions have not yet been made given the uncertainty surrounding the club’s rotation amid rumors of the club trading Cease or King.
Turning to the positional side of things, veteran third baseman Manny Machado spoke to reporters (including MLB.com’s AJ Cassavell) yesterday about the progress his elbow has made since undergoing offseason surgery last winter. That surgery cost him the final days of the 2023 season and kept him from returning to his typical post as the Padres’ regular third baseman until May, and continued to mix in occasional DH days throughout the first half. Machado noted that he dealt with the “lingering effects” of his surgery throughout the 2024 campaign, but made clear that “everything” has been different for him this offseason as he’s now “back to normal” for the first time post-surgery.
Whether that will be enough to help catapult the 32-year-old back into the .280/.352/.504 (130 wRC+) form he showed during his first four seasons in a Padres uniform remains to be seen, but it’s surely an encouraging sign for Padres fans that Machado is feeling healthier than he was last season, when he posted a 122 wRC+ with 3.6 fWAR. The veteran slugger has nine years left on the 11-year, $350MM deal he signed prior to the 2023 season, so Machado’s ability to maintain star-caliber production into his mid-to-late 30’s will be key to the Padres’ success over the coming decade.
While the Padres have been preparing for the coming season on the field and in the front office, a squabble between ownership stakeholders has been going on in the background. While the Padres announced back in December that Peter Seidler’s brother John Seidler was poised to take over as the franchise control person, that was seemingly put on hold when Peter’s widow, Sheel Seidler, filed a lawsuit against Peter’s other two brothers (and trustees of The Peter Seidler Trust) Matt and Bob Seidler. Matt Seidler subsequently filed a response to that lawsuit last week, and as the legal battle surrounding the role of Padres control person continues plenty of speculation has gone on among fans and media members about the future of the franchise.
As noted in a column by Matt Shaikin of the Los Angeles Times yesterday, however, one thing the Seidler brothers are resolute on is their commitment to owning the Padres. Shaikin notes that the brothers have “no plans to sell the Padres to anyone.” That apparently includes Sheel Seidler, whose legal counsel Dane Butswinkas, Shaikin reports, refused to answer whether or not she is attempting to buy her former brothers-in-law out of the franchise.
“Ideally, we would like to resolve this with the brothers,” Butswinksas said, as relayed by Shaikin. “However, for that to occur, it would take some level of cooperation from them. So far, we have seen no signs of that happening. The current path towards resolution, unfortunately, is through litigation, which we know can drag on for years and would be in no one’s interest.”
The possibility of a sale comes up in Shaikin’s piece, which MLBTR readers are encouraged to read in full, as part of a larger discussion about recent legal disputes between stakeholders within ownership groups in instances of divorce, illness, or death affecting a club’s primary owner. Those disputes, as Shaikin notes, have a history of being resolved through the sale of the team. Former Padres owner John Moores and, more recently, the Angelos family that formerly owned the Orioles are among previous owners who have sold their teams amid legal battles within the team’s ownership structure.
Matt Seidler Files Response To Sheel Seidler Lawsuit
Sheel Seidler, the widow of late Padres’ owner Peter Seidler, filed a lawsuit earlier this month trying to gain control of the team. That suit made various allegations, including that two of Peter’s brothers (Matt and Bob) breached various fiduciary duties as they tried to make an underhanded attempt to control the club and maybe even relocate the team. This week, Matt Seidler has filed a response that refutes Sheel’s narrative, as relayed by Kevin Acee of the San Diego Union-Tribune and Dennis Lin of The Athletic.
Matt and Sheel present very different perspectives about how things have proceeded in recent years. Matt’s response states that Peter amended his trust seven times and did not name Sheel a trustee in any of those changes, whereas Peter’s brothers Robert, Matt and John Seidler are designated as trustees, with the trustees to name the control person. In December, it was reported that John would be named the club’s new control person.
“In fact,” the response reads, “… the Trust Agreement precludes Sheel from ever serving as a successor Trustee under any circumstance. Conversely, Peter provided that, after Sheel’s death, each of his Children would have the right to become cotrustees of their own trusts once they reached the age of (40).” The response goes on to say that the transactions Sheel identified as fraud actually benefited the trust at a rate twice as much as expected, with Sheel and her children beneficiaries of said trust.
Matt’s response also alleges the trust has made multiple transactions to benefit Sheel, including transferring ownership of a $30MM Texas ranch to her name, the purchase of an $8.5MM home in Coronado, California, as well as cash disbursements totaling more than $4.5MM. Matt’s response alleges that Sheel requested to be the club’s control person, which Matt denied, at which point she demanded $20MM and a promise of annual payments in that same amount. Matt also alleges that Sheel used power of attorney to take $2.5MM from one of Peter’s accounts while he was in the ICU. The filing also states that “Sheel’s goal is to manufacture claims against the Trustees in pursuit of the control that Peter intentionally chose not to give her” and that the lawsuit was a public relations move which “sought to prejudice the Padres fanbase against Matt, Bob, and John.”
Whether the ownership battle has any on-field impact is something that can be debated, but Matt’s filing insinuates that Sheel’s suggestion that the club might leave San Diego impacted discussions with right-hander Roki Sasaki. The Dodgers were long considered the most likely landing spot for Sasaki with the Padres considered a dark-horse threat. The Padres and Dodgers were two of the three finalists, alongside the Blue Jays, though Sasaki did eventually pick the Dodgers.
Longtime Padre Jurickson Profar recently signed with Atlanta and was asked about not returning to San Diego. In video relayed by Jim Russell of Jon & Jim, Profar alluded to the “issues with ownership” that the Padres have.
Perhaps that was a reference to this legal battle or simply the club’s well-documented financial issues in recent years. Even before Peter died in November of 2023, it was reported in September of that year that the club would have to cut back its spending habits because they were deemed to be “out of compliance with MLB regulations regarding their debt service ratio.” The current offseason and last winter’s have been largely defined by the club dealing with payroll constraints, which led to last winter’s Juan Soto trade. The club has been less active this offseason but players like Dylan Cease, Michael King, Luis Arráez, Robert Suarez and others have been in trade rumors.
Dane Butswinkas, an attorney representing Sheel, provided Acee with a statement in response to Matt’s filing: “The response, for all of its bravado, is especially thin in responding to the very specific and serious allegations of Matt and Robert Seidler’s breaches of fiduciary duty. It’s ironic that they accuse Sheel — Peter’s wife of two decades and the mother of his three children — of misusing his assets, while at the same time they have reaped the benefits of Peter’s generosity for decades. The fact is, we will win in court because the defendants have shown they have no case. In short, their response is a total strike out.”
It’s unclear what the next steps of the legal process will be or what the expected timelines are. Per Lin, the MLB owners are scheduled to vote on John as the club’s control person next week. Many clubs are owned by multiple people but each team gets one control person who is a point of contact for the league and who votes on league matters.
Complicated ownership disputes are not unprecedented in Major League Baseball. Various members of the Angelos family, which previously owned the Orioles, filed lawsuits against each other after Peter Angelos fell ill. Those lawsuits were dropped in February of 2023 and the club was sold to a group headed by David Rubenstein in 2023.
Peter Seidler’s Widow Files Lawsuit Against Peter’s Brothers For Control Of Padres
6:59pm: The Peter Seidler Trust released a statement on Monday evening (relayed by Bill Shaikin of the Los Angeles Times). It calls Sheel Seidler’s complaint “entirely without merit.” The Trust claims that Peter Seidler had a “clear estate plan” which names three of his brothers as successor trustees. The Trust alleges that Peter Seidler “prohibited” his wife from ever becoming trustee and that Sheel Seidler agreed in 2020 “that she had no right to be or to designate” the franchise’s control person.
The Trust did not directly address Sheel Seidler’s claims that Matt Seidler could pursue a sale and relocation. However, Kevin Acee of the San Diego Union-Tribune writes that sources around the league consider the idea of the Padres leaving to be “extremely far-fetched.”
2:31pm: Last month, it was reported that the Padres would be appointing John Seidler to take over as the club’s new control person, but that was still pending league approval and there are new developments in that story. A report from Eben Novy-Williams and Daniel Libit at Sportico has details of a lawsuit filed by Sheel Seidler, Peter’s widow, trying to gain control of the team. Sheel later released a statement in relation to the story.
At issue is how things have proceeded in the wake of Peter Seidler’s death, which was just over a year ago. Peter was part of a group that purchased the Padres in 2012. Ron Fowler acted as the club’s control person until Peter took over after the 2020 season. MLB teams are often owned by multiple people but each team has one designated control person who is a point of contact for the league and votes on key matters.
During Peter’s ownership tenure, the club became known for being highly aggressive, despite being in a relatively smaller market. As shown in the data at Cot’s Baseball Contracts, the Padres had been one of the lower-spending clubs for much of the century, until recently. They had one of the top ten payrolls in 2021, then got into the top five in 2022 and the top three a year after that.
That led to a huge increase in terms of fan engagement and also results, with the club having now made the postseason in three of the past five seasons. However, it hasn’t all been smooth sailing. In September of 2023, it was reported that the club’s wild spending had put it “out of compliance with MLB regulations regarding their debt service ratio,” which was going to lead to a payroll crunch. Peter, who had a number of ongoing health problems, died less than two months later.
Shortly after Peter’s death, it was reported that a new control person had been decided upon. Eric Kutsenda, one of the co-founders of Seidler Equity Partners, was given the title on an interim basis. Just over a year later, the aforementioned reporting from last month indicated that Peter’s brother John would be taking over as control person. The report from Kevin Acee of the San Diego Union-Tribune included a statement that mentioned two of Peter’s brothers: “Peter’s youngest brother Matt, as trustee of Peter’s trust, is pleased to announce that John Seidler, Peter’s oldest sibling, an accomplished entrepreneur and business executive, will be the Padres’ next control person, pending approval by Major League Baseball.” Acee added that the Seidler family owns “what is believed to be a 45% stake in the team.” That includes Peter’s brothers, widow, mother and others.
Today’s lawsuit suggests that segment of the ownership group is not aligned in their thinking. According to Sportico’s report, Sheel’s lawsuit alleges that two of Peter’s brothers, Matt and Bob, breached their fiduciary duties as trustees of the Seidler Trust. The suit claims they conspired to sell trust assets to themselves at “far-below-market prices,” as they “schemed to solidify their control of the Padres.”
The suit also suggests that the brothers had racial and sexist motivations for keeping the club out of Sheel’s hands, saying that Bob’s wife made multiple “racist, profane and hateful communications directed at Sheel—a woman of Indian descent—in communications.” Sheel claims that Peter wanted to eventually pass the club to his kids and wanted her to act as control person in the interim, with the brothers now trying to “falsely cast themselves as Peter’s true heirs.” Evan Drellich of The Athletic relays one section of the suit which suggests Matt wants to “sell, and perhaps relocate, the team, over Sheel’s strident objections.”
Sheel is seeking damages, that the defendants be denied compensation from the Seidler Trusts, to void any of their previous actions relating to advancing the Padres’ control person and also that Matt be removed as the trustee, with a receivership taking control of the trust.
“Earlier today,” Sheel’s statement reads, “I filed a complaint against Matthew Seidler and Robert Seidler to protect my family and to continue to carry out Peter’s legacy.” She goes on to talk about how much the club meant to the family and her desire to be named control person. “The complaint alleges claims against Matthew and Robert for breaches of fiduciary duty and fraud. I would urge anyone who is interested in the details to read the full complaint. This was not a decision I made lightly. During this difficult period, I have done everything in my power to avoid unwanted distractions and resolve the matter privately. I have focused on supporting the work of the many dedicated professionals within the Padres organization, as well as the incredible players we have the privilege of watching nearly every day throughout the season. I made this decision as a very last resort, but I am confident it is the right one, and the best way to protect the Padres franchise and ensure the vision that Peter and I shared for the team will continue.” She goes on to state her desire that the team will one day be left to hers and Peter’s children while hoping for a quick resolution to this dispute.
Legal disputes over a baseball club are not unprecedented. Most recently, Orioles owner Peter Angelos fell into ill health, which led to his family members filing multiple lawsuits against each other for control of the club. Those suits were eventually dropped and the club was sold to David Rubenstein.
John Seidler To Take Over As Padres’ Control Person
Just over a year after the sudden passing of Padres owner Peter Seidler, the organization has its new control person. While Seidler’s business partner Eric Kutsenda took over as interim control person in the immediate aftermath of Seidler’s death, he’ll now be succeeded more permanently by John Seidler according to a report from Kevin Acee of the San Diego Union-Tribune. Kutsenda will remain part of the organization and the rest of the team’s senior leadership will remain in their current roles. Seidler’s ascent to title of control person will need to receive the approval from the league before it becomes official.
Seidler, 65, is the brother of the Padres’ previous owner and is among the members of the Seidler family who collectively hold what Acee notes is believed to be a 45% stake in the team. Previous reports have indicated that Peter Seidler intended for his family to maintain ownership of the Padres for generations to come and that the club intended to proceed with that plan following his death. John Seidler taking the reins of the organization appears to be the latest move toward making that plan a reality, and Acee added that a source familiar with the family’s plans confirmed to him that the Seidler family intends to own the Padres for “a long time.”
“Since Peter’s passing, Eric Kutsenda has served as our interim control person,” the Padres said in a statement provided to Acee. “Peter’s youngest brother Matt, as trustee of Peter’s trust, is pleased to announce that John Seidler, Peter’s oldest sibling, an accomplished entrepreneur and business executive, will be the Padres’ next control person, pending approval by Major League Baseball.
Peter never viewed the Padres as ‘his’ team. Instead, he saw the team as an asset of the community of which he was a faithful steward. John shares Peter’s vision and will continue to strengthen and nurture this great franchise, its players, fans and employees, and the entire San Diego community.”
Importantly, Acee notes that the upcoming changing of the guard at the top of the Padres organization is not expected to impact the club’s plans on the field in terms of payroll. In its final years under Peter Seidler, the Padres organization had operated hefty payrolls in hopes of speeding up the club’s timeline for contention, but starting last offseason began to lower payroll to something closer to the middle of the pack. Acee adds that the Padres believe that their current model for payroll is “more sustainable” and that it figures to continue going forward with John Seidler now at the helm.
For the 2025 season, that likely means the club’s payroll will need to come down as compared to current projections. RosterResource projects a $210MM payroll for the club next season as things stand, which is $41MM higher than last year’s $169MM figure. While previous reporting has indicated that the club has room to increase the budget beyond its 2024 level, that increase is expected to be marginal and leave the club to ponder trading pricey arbitration-level players such as Dylan Cease and Luis Arráez.