The family of the late Peter Seidler is exploring a potential sale of the San Diego Padres, the team announced Thursday.
In a statement, Padres chairman John Seidler, the franchise’s control person and Peter’s older brother, wrote the team will “undertake this process with integrity and professionalism in a way that honors Peter’s legacy and love for the Padres and lays the foundation for the franchise’s long-term success.”
Peter Seidler was part of the group that purchased the Padres in 2012, became the franchise’s largest stakeholder in 2020 and invested in the team in unprecedented fashion, outfitting the roster with star players on long-term contracts and running the payroll higher than $250 million in 2023, all with the goal of delivering the first championship to San Diego.
Seidler died that November at the age of 63.
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The Padres are in the midst of the greatest run of success in franchise history, making the playoffs three times in four years and winning 90-plus games in back-to-back seasons. Petco Park, nestled in the heart of downtown San Diego, has enjoyed record-setting attendance along the way, drawing at least 3 million fans in each of the last three seasons.
But the Padres lost their local media contract early in the 2023 season, eliminating a crucial source of fixed revenue, and the franchise has scaled back its spending since Seidler’s passing. The Padres slashed payroll by about a third going into 2024, to roughly $172 million, though they went back up to about $215 million in 2025.
Those constraints, when coupled with lucrative long-term commitments to the likes of Manny Machado, Xander Bogaerts and Fernando Tatis Jr., has limited the maneuverability of general manager A.J. Preller.
Lately, dissent has surfaced within Peter Seidler’s family. In January, Peter’s widow, Sheel, sued two of his brothers, Robert and Matthew, in an effort to gain control of the team, claiming that she and her three children had been “effectively ostracized” from the organization since her husband’s death. The lawsuit remains in Texas probate court.
Major League Baseball approved John Seidler as the team’s control person in February.
Now, after what was described in a news release as “months of careful consideration and consultation with trusted advisors,” John Seidler could sell the Padres.
“During the process and as we prepare for the 2026 season, the Padres will continue to focus on its players, employees, fans and community while putting every resource into winning a World Series championship,” John Seidler wrote as part of his statement. “We remain fully committed to this team, its fans, and the San Diego community.”
The team has appointed the firm BDT & MSD Partners to guide the potential sale.
