Is the Moorad-Moores Sale in Jeopardy?

Tim Sullivan from the U-T has an article in this morning's paper discussing some of the recent rumors regarding the sale of the Padres to Jeff Moorad and his group of investors.

In the article he mentions an item in yesterday's Boston Globe from Nick Carfado:

Jeff Moorad, prospective owner, Padres: His gradual takeover of the team seemed solid, but now we're hearing of financing difficulties.

Sullivan also highlights a commentary in the Daily Transcript from a few weeks back by City Club President George Mitrovich:

Beyond the announcement of the sale, there are unanswered questions: 1. Who are Moorad's partners? 2. Why is the sale spread out over five years? And, 3. Why would Moorad and his shadow group reportedly pay $500 million for the franchise? Last year Forbes magazine estimated the Padres' value at $367 million. Given the team's last-place finish in '08, a significant falloff in attendance and the possibility it will drop further this year -- by what stretch of accounting has the value ballooned $133 million? When you consider the nation's economic collapse, when the value of almost everything has fallen by catastrophe numbers -- in six months the Bank of America/Merrill Lynch merger fell $137 billion in value -- the Padres' rise in worth is baffling, even to baseball insiders.

Bob DuPuy and some of Sullivan's sources seem think the deal is fine:

The most authoritative accounts available, however, indicate that the whispers are dead wrong. Bob DuPuy, president and chief operating officer of Major League Baseball, said Friday that his most recent information was that “the closing was on track” to meet a March 31 deadline.

On the question of funding, a source close to the sale, speaking on the condition of anonymity, said Moorad's partnership is actually “oversubscribed,” meaning he has more willing shareholders available than he has shares to distribute. (At least one of those units has been earmarked for Hall of Fame quarterback Troy Aikman, a partner in Moorad's auto racing venture.)

Another confidential source who is familiar with the transaction said Saturday that the remaining hurdles are mainly “administrative stuff,” and that “the goal remains to close before Opening Day.”

I guess we'll see....