MLB approves Padres sale
The sale of the San Diego Padres to a group that includes the O'Malley family and golfer Phil Mickelson has been approved by Major League Baseball.
|This guy is officially one step closer to owning a piece of the San Diego Padres. (Getty Images)|
Major League Baseball has approved the sale of the San Diego Padres from outgoing owner John Moores to a group that includes, most notably, the O'Malley Family (former owners of the rival Dodgers) and pro golfer Phil Mickelson.
"We are grateful to have completed a significant step in the sale process," new controlling partner Ron Fowler said in a statement following the Thursday vote among other MLB team owners. "On behalf of the Seidler and O’Malley families, I would like to thank the Commissioner and MLB owners for their vote of trust. We want to thank San Diego fans for their patience and support as we await the final closing."
The agreed-upon sale price is believed to be around $800 million and will include an equity stake in the new FOXSports San Diego. It was CBSSports.com's Scott Miller who first reported that Fowler and the O'Malleys had emerged as the favorites to secure the purchase from Moores.
Moores originally purchased the Padres during the 1994-95 labor stoppage for around $70 million.
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