Padres have been sold!

by jbox on Jan 2, 2009 6:07 PM PST Comment 24 comments

Padres have been sold to somebody from the Diamondbacks! Expect a new owner soon. Developing...

ESPN: Moorad resigns as CEO, says agreement to buy Padres reached

Sign on San Diego: Moorad near deal to buy Padres from Moores

"I can confirm that Jeff has resigned and is interested in the Padres," San Diego owner John Moores wrote in an e-mail to The Associated Press.

[Note by jbox, 01/02/09 10:43 PM PST ]
We were all excited we thought we had an exclusive and we posted from Petco Park on an iPhone. Oh well.

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What kind of bank roll does this guy have?

by DougOLis on Jan 2, 2009 6:29 PM PST reply actions 0 recs

It would be an ownership group

So I would imagine that they payroll would be based upon the revnue that the team generated.

http://sports.espn.go.com/mlb/news/story?id=3806526

by Steve (Grey Suit) on Jan 2, 2009 7:10 PM PST up reply actions 0 recs

Yes

very exclusive.

Brady Hoke, Al Borges, and Rocky Long. Aztec football is back!

by sdsuaztec4 on Jan 2, 2009 6:45 PM PST reply actions 0 recs

I don't know how we could see this as anything but good news.

Hopefully it goes through soon enough for the team to take advantage of one of the richest free agent classes in years. I’m not sure what the payroll would be expected to be, but it has to be better than 40 mil, right?

by kidlondon on Jan 2, 2009 8:45 PM PST reply actions 0 recs

Well it should be

We certainly generate that in revenue.

LT 4 MVP

by sdpads24 on Jan 2, 2009 8:55 PM PST up reply actions 0 recs

I've heard that the team barely balances out

I’ve heard that Moores had been underwriting for a while. I’m thinking the new ownership group is waiting for the Cox contract to be up and the TV deal to be renewed for the proper windfall since the real estate doesn’t seem to be doing much for now.

by Dex on Jan 2, 2009 11:04 PM PST up reply actions 0 recs

There has always been questions about the Padres books...

I guess now we will see if they really were in the red with a $70 million payroll, I’m sure the new ownership group will not be willing to invest a ton of money into payroll right off the bat.

by Steve (Grey Suit) on Jan 3, 2009 7:43 AM PST up reply actions 0 recs

They haven't been sold yet

Moorad just has exclusive bargaining agreement with Moores.

Moorad is coming in with an investment group and negotiating to buy a majority interest, not all of Moores share. He won’t be the only owner, not even in his investment group, probably just the managing partner.

If you read the article Moorad talks about how the Diamondbacks are getting it done with a small payroll. Don’t expect Moorad and his investment group to go out and sign any big name free agents.

The Team will have to pay for itself with these guys if they are going to pattern themselves after what Moorad, Kendrick et al did in Arizona.

Do you know what we get to do today? We get to talk baseball!

www.websoulsurfer.com

by websoulsurfer on Jan 2, 2009 9:42 PM PST reply actions 0 recs

"Only 'finer points' remain to be hashed out"

Union-Tribune story.

Witty .sig goes here.

by scareduck on Jan 2, 2009 10:13 PM PST up reply actions 0 recs

Mark Grace

has to be behind this. He has to be!

by Jonny Dub on Jan 2, 2009 11:02 PM PST up reply actions 0 recs

i think this is terrific news. a long protracted sale would have been terrible for the Padres.

does anyone know the approximate figure the Padres receive in revenue from MLB for the network tv deal and teams paying the luxury tax ?

by clay_kirby on Jan 2, 2009 9:45 PM PST reply actions 0 recs

Well atleast we know that the team will be able to afford more than a 40 million dollar payroll

I hope that the new group is in place by the draft so that they will be able to spend the money to sign the most talented player available.

by Steve (Grey Suit) on Jan 2, 2009 10:07 PM PST reply actions 0 recs

man

ram

pooping not

www.wellbelowthemendozaline.blogspot.com

by justdave on Jan 2, 2009 10:25 PM PST up reply actions 0 recs

Moo.

by TJB on Jan 2, 2009 11:21 PM PST reply actions 0 recs

This is exciting

In that it should get the Padres back where they were before the whole divorce thing. However, this is not the type of owner that some glb people have hoped for that would spend massive bank to make the fans happy.

I’m hoping that Moorad decided he wasn’t cut out for running a team’s day-to-day operations and would rather just be in charge and have smart people like Sandy, KT, DeP and Grady run it instead. As much Sandy-hate as there is out there, getting rid of him will not be good for the team on the field (but it would probably be a boon for the PR department). Moorad does know some things about baseball though, so adding one more smart guy to the current think tank could only help things.

1-10-DEN 18 (9:52) (Shotgun) 6-J.Cutler pass short right intended for 19-E.Royal INTERCEPTED by 93-L.Castillo (95-S.Phillips) at DEN 18. 93-L.Castillo to DEN 14 for 4 yards (62-C.Wiegmann). 6-J.Cutler pouts ob to DEN 25 for 11 yards.

by Wonko on Jan 2, 2009 11:57 PM PST reply actions 1 recs

Former DBack?

Oh, well at least he spends ridiculous money he doesn’t even have.

Isn't it enough to know that I ruined a pony making a gift for you? ◔ヮ◔
Uncommon Sportsman :: Absurdity in play

by Axion on Jan 3, 2009 2:13 AM PST reply actions 0 recs

...and just maybe

he’ll use some of that money to take down that ridiculous #6 in the outfield. I’m just sayin’…

The frickin' dodgers didn't even retire his number!

by The Pickmaster on Jan 3, 2009 7:02 AM PST up reply actions 2 recs

I wish

this could have happened before they were forced to dump Khalil for a bag of balls.

by Phantom on Jan 3, 2009 10:34 AM PST reply actions 0 recs

A clean slate

I´m currently in southern Mex and just happened upon the internets and this is what I find! If the Chargers win tonight , my faith in all things fair and just will at least be partially restored.

by The Kipper on Jan 3, 2009 11:09 AM PST reply actions 0 recs

Big day for SD sports

by matto619 on Jan 3, 2009 11:47 AM PST reply actions 0 recs

Congrats!

This should be great news for Padres fans and San Diego Sports in general. While I would not consider John Moores to be a “bad” owner, his domestic legal proceedings rendered him unable to provide the resources and committment necessary to give you great Padres fans the competitive team you deserve. All the best to you guys in 2009 and the future…

Paul Lo Duca is MLB's Pablo Escobar..

by DodgerBlueBalls on Jan 3, 2009 12:58 PM PST reply actions 1 recs

Aw nerts

jbox, our team is now owned by a BRUIN!

by matto619 on Jan 3, 2009 2:45 PM PST reply actions 0 recs

I saw that

maybe he’ll be so sick of watching losing teams that he’ll try extra hard to win here in SD.

by jbox on Jan 3, 2009 3:23 PM PST up reply actions 0 recs

wait, what?

A former D-back, a former Bruin, are the Padres just trying to make me hate them? Oy, that’s just a deal-breaker for even frenemy status. Is there some way Moores can sneak a letter renouncing his former allegiances as heretical and worthy of much humiliating scorn into the official sale documents? That would help get the Padres back to where I just passive-aggressively pretend to like them while making out with the BF behind their back.

by Rox Girl on Jan 3, 2009 7:21 PM PST up reply actions 1 recs