Report: Padres owner reaches agreement to sell team
San Diego Padres majority owner John Moores has signed an agreement to sell the team to a group that is headed by San Diego businessman Ron Fowler and includes Phil Mickelson and relatives of former Dodgers owner Peter O'Malley, MLB.com reported Monday.
For the sale to become official, 75 percent of the other 29 owners most approve the sale, which is tentatively on the agenda for the Aug. 16 ownership meeting.
The Padres sold for $800 million, Moores told MLB.com, and the sale includes a 21 percent stake in FOX Sports San Diego, a new regional sports network.
Moores began the process of selling the team to Jeff Moorad in March 2009, but Moorad ran into problems, and Fowler replaced Moorad this season as head of the group of limited Padres partners, which owns 49 percent of the club.
Fowler probably will represent the Padres at league meetings. O'Malley's son Kevin and nephew Tom Seidler will represent the O'Malley family in a group that also includes Mickelson, a San Diego native.
Fowler is the CEO of Liquid Investments, a San Diego beer distributorship.
