"We put everything on the line"...Padres sale approval, Song Sung-moon's team sets new record with 3.9 billion dollars
MLB ownership approved the San Diego Padres sale by unanimous consent. 3.9 billion dollars, the highest price in MLB history. Song Sung-moon's team ownership is changing.
Translated from Korean with AI assistance. Read the original. Sources and original publication dates are retained.
A woman born in Los Angeles took the stage at Apollo Theater's Amateur Night. She won and debuted as a singer—that was the beginning. On August 17, 2026, Kwanza Jones received unanimous approval from MLB ownership. Once the deal closes, Jones will become the first Black female majority stakeholder owner in MLB history.
Padres sale price 3.9 billion dollars, MLB all-time record at number one
The numbers stand out first.3.9 billion dollars.APAccording to AP, the enterprise value of this Padres sale agreement is the highest in MLB team sale history. It is 1.5 billion dollars higher, 62.5% more than the previous record of 2.4 billion dollars for the New York Mets in 2020.
What's interesting is the gap with Forbes' valuation. According to the MLB team value that Forbes calculated on March 20, 2026, San Diego ranked 10th at 3.1 billion dollars. The actual sale price was 800 million dollars higher than that valuation. A top 10 league team was sold at the all-time highest price.
| Category | Amount | Date |
|---|---|---|
| Padres sale price | 3.9 billion dollars | 2026 |
| Mets sale price (previous #1) | 2.4 billion dollars | 2020 |
| Forbes-valued Padres value | 3.1 billion dollars (MLB #10) | March 2026 |
| Forbes-valued Yankees value (#1) | 8.5 billion dollars | March 2026 |
| Forbes-valued Dodgers value (#2) | 7.8 billion dollars | March 2026 |
From the Apollo stage to team owner: The path Kwanza Jones has walked
Jones' background is far from baseball. She graduated from Princeton University in 1993 and received her J.D. from Cardozo Law School. She has nine singles that charted on the Billboard charts. In 2020, together with her husband Jose E. Feliciano, she donated to Princeton University20 million dollars.
Feliciano (53) is the control person of the group. A private equity executive who co-founded Clearlake Capital in 2006, Forbes estimated his net worth at3.9 billion dollars(as of July 28, 2026). According to AP reporting, he becomes the second Latino principal owner in MLB after Arte Moreno of the LA Angels.
Approval is done, closing remains...August 24 Petco Park press conference
One thing must be noted. The deal is not completely done yet. In its August 18 report, AP said the deal has official closing remaining within the coming weeks. This differs from how local media Gaslamp Ball wrote "management transition complete" on the same day. The introductory press conference for Feliciano and Jones isAugust 24, 2026 at Petco Parkaccording to AP reporting.
The Padres have been owned by the Seidler family since Peter Seidler's death in 2023. On April 17, 2026, ESPN reported that the 3.9 billion dollar sale was imminent, and the team officially announced the final contract signing on May 3. However, the team's official announcement did not disclose the transaction amount, and 3.9 billion dollars is the figure based on reporting by AP, ESPN, and others.
Song Sung-moon's salary $2,750,000, Padres batter #7
The reason this news catches Korean fans' attention is Song Sung-moon (29).MLB.comreported that he signed a four-year, $15,000,000 guaranteed contract with the Padres in December 2025. In the 2026 Padres batter salary ranking compiled by Spotrac, heranks 7th at $2,750,000.
2026 Padres batter salary ranking (Spotrac, as of 2026.08.18)
| Rank | Player | 2026 salary | Position |
|---|---|---|---|
| 1 | Xander Bogaerts | $25,454,545 | Second base |
| 2 | Manny Machado | $25,090,909 | Third base |
| 3 | Fernando Tatis Jr. | $20,714,285 | Right field |
| 4 | Jake Cronenworth | $12,285,714 | First base |
| 5 | Ramon Laureano | $6,500,000 | Right field |
| 7 | Song Sung-moon | $2,750,000 | Infielder |
He was different in the KBO. In the 2025 season, he appeared in all 144 games and ranked 2nd in hits (181), 7th in batting average (0.315), and received the Gold Glove for third base. In contrast, his first MLB season stats stood at a batting average of 0.212, with 1 home run and 15 RBIs (as of 2026.08.18).
The new ownership group's goal is clear. Jones and Feliciano said in a statement that they would build an organization capable of winning the World Series and competing for championships every year. Commissioner Rob Manfred said, "We look forward to seeing how they lead the Padres." And one sentence left by the two: "We put everything on the line and are committed to winning."
Frequently asked questions
Q. How much is the San Diego Padres sale price?
According to AP and ESPN reporting, it is 3.9 billion dollars. It is a new MLB team sale record, surpassing the New York Mets' 2.4 billion dollars in 2020, and the amount was not disclosed in the team's official announcement.
Q. Who is the new owner of the San Diego Padres?
An investment group led by Jose E. Feliciano, co-founder of Clearlake Capital, and his spouse Kwanza Jones. Jones will become the first Black female majority stakeholder owner in MLB history once the deal closes.
Q. How much is Song Sung-moon's salary?
According to Spotrac, it is $2,750,000 for 2026, ranking 7th among Padres batters. For the full contract, it is 4 years and $15,000,000 guaranteed (according to MLB.com reporting).
Related official sites
- Major League Baseball— verify official league announcements regarding ownership approval and closing
- San Diego Padres— official team press releases, roster, and schedule
- Song Sung-moon player statistics (KBO)— original career and year-by-year statistics from KBO era
- KBO— official domestic professional baseball records and schedule
Representative image · graphic=Wale SV · background photo=Wikimedia Commons (Bernard Gagnon), CC BY-SA 3.0
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