O'Malley group getting closer to buying Padres
THE SPORTS XCHANGE |
Published: Saturday, June 23, 2012, 6:12pm
The heirs of former Los Angeles Dodgers owner Peter O'Malley could be close to buying the San Diego Padres.
The O'Malley group has been in San Diego meeting with Padres majority owner John Moores the past several days. The O'Malley group is one of two that appear to have emerged as the clear leaders in the bidding to purchase the franchise.
Orange County mobile communications magnate Gary Jabara is the other party known to be negotiating with Moores, according to one source with direct knowledge of the proceedings. Moores was seen at Petco Park on Friday night.
While some observers expected the sale of the club might be completed last week, the All-Star break now looks to be a target. The sale could happen sooner, however.
A source late Friday night told the UT San Diego newspaper that the O'Malley group, given its longtime ties to the Dodgers, might receive quicker approval from other major league owners and said the club "would be theirs if they meet the selling price."
"All things being equal, if the O'Malleys are there on the price, they will own the Padres," the source said. "Moores knows the O'Malleys would be welcomed by Major League Baseball, which could expedite the sale process."
Peter O'Malley is the former longtime owner of the Dodgers and the son of Walter O'Malley, who brought the Dodgers to Los Angeles from Brooklyn.
The O'Malley group includes Peter's sons Kevin and Brian, the sons of his sister (Peter and Tom Seidler), and Hall of Fame golfer Phil Mickelson, who was in the stands earlier this week for a game against the Texas Rangers.
Both the O'Malley group and Jabara have made detailed studies of the Padres' records and reportedly have discussed the financial details of a possible purchase with Moores, who owns 51 percent of the club. The other 49 percent is owned by the group headed by Jeff Moorad, who purchased the Padres in 2009 for about $575 million on a "layaway" agreement.
On the field, the Padres snapped a three-game losing streak by beating the Seattle Mariners 9-5 Friday in the opener of a three-game series.
The O'Malley group has been in San Diego meeting with Padres majority owner John Moores the past several days. The O'Malley group is one of two that appear to have emerged as the clear leaders in the bidding to purchase the franchise.
Orange County mobile communications magnate Gary Jabara is the other party known to be negotiating with Moores, according to one source with direct knowledge of the proceedings. Moores was seen at Petco Park on Friday night.
While some observers expected the sale of the club might be completed last week, the All-Star break now looks to be a target. The sale could happen sooner, however.
A source late Friday night told the UT San Diego newspaper that the O'Malley group, given its longtime ties to the Dodgers, might receive quicker approval from other major league owners and said the club "would be theirs if they meet the selling price."
"All things being equal, if the O'Malleys are there on the price, they will own the Padres," the source said. "Moores knows the O'Malleys would be welcomed by Major League Baseball, which could expedite the sale process."
Peter O'Malley is the former longtime owner of the Dodgers and the son of Walter O'Malley, who brought the Dodgers to Los Angeles from Brooklyn.
The O'Malley group includes Peter's sons Kevin and Brian, the sons of his sister (Peter and Tom Seidler), and Hall of Fame golfer Phil Mickelson, who was in the stands earlier this week for a game against the Texas Rangers.
Both the O'Malley group and Jabara have made detailed studies of the Padres' records and reportedly have discussed the financial details of a possible purchase with Moores, who owns 51 percent of the club. The other 49 percent is owned by the group headed by Jeff Moorad, who purchased the Padres in 2009 for about $575 million on a "layaway" agreement.
On the field, the Padres snapped a three-game losing streak by beating the Seattle Mariners 9-5 Friday in the opener of a three-game series.
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