John Moores selling the San Diego Padres as part of divorce settlement

This is crrrraaaazzzzy!!! The Padres are for sale!!!

According to sources, Padres owner John Moores is going to sell 49 percent of the team as part of a divorce settlement with his wife Becky.

I think we all figured it was going to happen, but it still comes as a shock. I'm superduper psyched for when Becky owns half and somebody like Mark Cuban owns half. It'll be like some kind of crazy romantic comedy with Becky wanting to hire sexy ballplayers and Cuban wanting to do ridiculous stunts for the media.

Quick! How much you guys got on you? If we pool our resources, we'll be able to own a Brian Giles butt cheek!

Dang, yo.

So many questions... Is Moores being forced to split the asset? Why wasn't the whole thing sold and then split? Is this a way of making it harder on Becky? Who will the new Padres owners be? What if Alex Rodriguez buys the team? Does that mean A-Rod will play short or third? How many Gaslamp Ball t-shirts would we have to sell to get a share? Will they go public? Wouldn't it be cool to have a share of the Padres hanging on your office wall?

[Note by Dex, 10/09/08 3:53 PM EDT ] Drama digs up the following:

John Moores bought 80 percent of the Padres in 1994 for a reported $80 million. His net worth has been estimated in recent years by Forbes magazine at about $750 million. The magazine projected the value of the Padres at more than $360 million.

The Forbes valuations have always been suspect in my mind. It will be interesting to see how the valuation stacks up to what somebody's willing to pay for 49% of the asset. I'm not sure how Moores' 80% splits down to 49%. By the math I just did in my head, that'll leave Moores with 31% of the team and additional cash in the neighborhood of $180 million.

[Note by Dex, 10/09/08 4:14 PM EDT ] So what happened to this?

For those who may be wondering, John Moores intends to maintain his principal ownership of the Padres into "the foreseeable future" and have a significant impact on any sweeping changes that may be made to the club in the offseason.

Does 31% count as "principal ownership"? Is "the foreseeable future" about 3 weeks?

X
Log In Sign Up

forgot?
Log In Sign Up

Please choose a new SB Nation username and password

As part of the new SB Nation launch, prior users will need to choose a permanent username, along with a new password.

Your username will be used to login to SB Nation going forward.

I already have a Vox Media account!

Verify Vox Media account

Please login to your Vox Media account. This account will be linked to your previously existing Eater account.

Please choose a new SB Nation username and password

As part of the new SB Nation launch, prior MT authors will need to choose a new username and password.

Your username will be used to login to SB Nation going forward.

Forgot password?

We'll email you a reset link.

If you signed up using a 3rd party account like Facebook or Twitter, please login with it instead.

Forgot password?

Try another email?

Almost done,

By becoming a registered user, you are also agreeing to our Terms and confirming that you have read our Privacy Policy.

Join Gaslamp Ball

You must be a member of Gaslamp Ball to participate.

We have our own Community Guidelines at Gaslamp Ball. You should read them.

Join Gaslamp Ball

You must be a member of Gaslamp Ball to participate.

We have our own Community Guidelines at Gaslamp Ball. You should read them.

Spinner.vc97ec6e

Authenticating

Great!

Choose an available username to complete sign up.

In order to provide our users with a better overall experience, we ask for more information from Facebook when using it to login so that we can learn more about our audience and provide you with the best possible experience. We do not store specific user data and the sharing of it is not required to login with Facebook.

tracking_pixel_9351_tracker