Former Lakers executives could be in new Padres ownership group
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What is the latest update on the Padres ownership sale?
All right, we've got a report out from Dennis Lynn in the Athletic giving us a little bit of an update on the Padres ownership situation. Uh obviously we got the all-star game today, so that's the big focus in the baseball world. But us as Pod Race fans, we are focused. Um on this article. Um the Padres sale likely after the trade deadline, Rob Manfred did say that Uh work remains and that essentially as Dennis writes here. Major League Baseball isn't what's holding this up. It it's more of majority baseball being a passive party, they're waiting on the buyer, the seller. They're getting investment commitments nailed down. That's what Manfred said. It's a question of getting investment commitments nailed down.
Documentation in a condition that it's ready for a club vote. Uh, this ownership situation came out earlier publicly than some do. And sometimes when it comes out publicly, a lot of this stuff. Is already Committed to And Uh What's the saying? The lines are dotted, the the T's are crossed. Not all that has happened here. So obviously we know about the n the main Podrace ownership group. Feliciano, Kwanza Jones, right. Um But It's not like they're buying the entire team. That's not how it works. And so they need more people that come into the group to finish this off. The plan According to a person familiar with the sale. The plan is to take a controlling stake of between forty and forty two percent of the team. Uh private equity, there's only a certain amount.
And in this article it says Feliciano and Jones. they will be using their personal wealth, expected to fund their individual stake in the Padres with their personal wealth. Other portions of their yet to be finalized ownership group could include private equity investors. But no franchise can sell more than thirty percent of its total equity to Private equity. Um, I think a lot of fans probably are like, I don't care, Ben. But that's I'm just saying that that's something that is an aspect of this that could be contributing to this. Maybe there's someone that wants to, but Not allowed to. Um yeah. With private equity, right. So there's that. Um the ownership group. From Dennis Lynn here. Also could include former LA Lakers front office executives Joey and Jesse Buss.
Industry sources told the athletic. In November, Dodgers owner Mark Walter bought the Lakers at a ten billion dollar valuation, and amid a disconnect with their sister Jeannie Bus, Joey and Jesse Bus were terminated from their positions with the NBA team. The two brothers' interest in becoming Padre's minority owners had not been previously reported. uh part sale Um, industry sources anticipate it happening sometime next month, likely after the August third trade deadline. So Uh I believe I saw a Sidler quote somewhere today that he was saying, like, yeah, things are gonna go as they have been essentially and Whatever decisions are made, it's gonna be with the best interest. For the Padre, blah blah blah.
I don't that means nothing to me.
Who are the primary members of the proposed ownership group and what stakes will they hold?
Um The Joey and Jesse bus part is the main part I wanted to hit on here. Because those are two big names, at least from my point of view, because I am a sports fan, so y you know the bus family, right, with the Lakers, obviously. Um and That was talked about a lot. Um, Joey and Jesse Bus. being let go from the Lakers. It seems like there's that there's a family fight with Jeannie and then with the brothers, right? Um And I was looking up, what did Joey and Jesse Buss do with the Lakers? Because them being with the Lakers, right? Like That's some pretty good experience there. That's in basketball, not baseball. Um But they were in front office positions. And it says here in an ESPN article, Joey and Jesse Buss have had key Lakers scouting roles for the past decade.
Helping find players such as Austin Reeves, Alex Caruso, Kyle Kuzma, Jordan Clarkson, N Larry Nance Jr. and Max Christie. Uh Joey Buss's specific role was alternate governor and vice president of research and development. Jesse Buss was the Lakers assistant GM. So that's where it concerns me a little bit.
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Chapters
5 chapters
1
What is the latest update on the Padres ownership sale?
0:01–3:30
2
Who are the primary members of the proposed ownership group and what stakes will they hold?
3:30–7:16
3
How might former Lakers executives Joey and Jesse Buss become involved with the Padres?
7:16–10:42
4
What specific roles did the Buss brothers hold with the Lakers and how could that translate to baseball?
10:42–13:39
5
Will the Buss brothers have decision‑making power or be limited to a financial stake?
13:39–15:51