The sale of the Padres is complete, live blogging the Press Conference

The sale of the Padres to the Fowler / O'Malley group is complete.

Tom Garfinkel has been named President and Chief Executive Officer and Josh Byrnes will remain as Executive Vice President/General Manager.

Let the vetting of the owners begin.

1 Ron Fowler* Chairman and CEO of Liquid Investments, Inc., lives in San Diego
2 Kevin O'Malley
3 Brian O'Malley
4 Peter Seidler Managing partner of Seidler Equity Partners
5 Tom Seidler President of Vasailia Rawhide
6 Rick Barry* Financial adviser, Northern California
7 Glenn Doshay* President at Palantir Capital, Inc
8 Alexis Fowler Wife of Ron Fowler
9 Patrick Graham* Occupation Unknown. Residents of Rolling Hills near Los Angeles
10 Alfredo Harp Helú Mexican businessman with a net worth of $1.0 billion
11 Harvey Jabara Managing Member of Olive Management, L.L.C., an investment management firm and is a partner in JSM Acquisition, L.P.
12 Lee Ross
13 Wayne Seltzer* Businessman, lives in Rancho Santa Fe

* former Moorad Group member

Interesting tidbits so far:

LIVE BLOG:

  • Peter Seidler says they completed the sale yesterday. They feel a great sense of responsibility to provide the Padres with a stable and enthusiastic ownership group.
  • Ron Fowler will be "the lead person" of the Ownership group.
  • Kevin O'Malley and his family are now living in San Diego. Wants to make the Padres a first class organization.
  • Peter O'Malley had surgery last week and that's why he isn't in attendance.
  • Tom Seidler is an official San Diegan now. He moved into an apartment yesterday.
  • Brian O'Malley will be cheering for the Padres "very loudly and strongly".
  • Wayne Seltzer, Alexis Fowler, Rick Barry, Pat Graham and Lee Ross are introduced but do not speak.
  • Ron Fowler says there are 3 priorities.
    1. Winning
    2. Fan experience
    3. Community
  • Wants fans and media to focus on the product on the field but not on the ownership group. They are going to be available to the media but want the players and management to be the focal point.
  • Fowler: "We will say far less and do far more."
  • All businesses need a consistent plan and message. "We have a plan in place now" it's being executed by Tom Garfinkel and Josh Byrnes. We will be very supportive owners.
  • The Padres are a civic treasure. They take their ownership of this treasure very seriously.
  • Row Fowler starts to cry saying "I can't believe how damn lucky I am."
  • Garfinkel says this is a great day for San Diego Padres fans everywhere. Says the ownership is committed to the fans, the city and winning. He says O'Malley family is doing this for the right reasons. They will treat everyone well. The focus will be on players and fans.
  • Byrnes has a love of the game. He's very excited but has lots of work to do. He acknowledges the great work that Buddy Black has done. He accepts the challenge to meet the new standards. "It's an exciting day to be a Padre."
  • Fowler is proud of the team and the employees of the team. "It's great to be a San Diegan."

Questions and Answers:

  • Fowler was not involved in the negotiations he was just looking to get the best deal for the limiteds. He made the decision a month ago to join the O'Malley's. It was not a conflict of interest.
  • Phil Mickelson is going to meet with the owners in 2 weeks and they think he could be a great fit for the group. He isn't a finalized member because of "a flurry of activities", his golf schedule and lawyer work. They expect to formalize. They have one spot open "for Phil and only Phil."
  • Fowler says they are not going to discuss payroll in the press. It's a policy they are going to have. "Specifics don't do anything for us." It only gives away information to the competition. Garfinkel expects an increase, they need more resources.
  • They cannot say if Phil Mickelson was cleared by the MLB, it's confidential.
  • They want all the fans to see the Padres on TV. "It's not a simple problem, if it was then we would have solved it." They will continue to work on it.
  • They want to make sure the Padres are on a "very strong financial footing."
  • Fowler was wearing two hats, representing the limiteds and making sure the team had resources. The new group was consulted about new signings.
  • The group is "over subscribed". More people want into the ownership group then they have room for. They have over capitalized the group in preparation for the sale. Peter made a commitment to keep place open for Mickelson.
  • Peter O'Malley might have a spot in the group open somewhere down the road. He will be a sounding board for the group until then.
  • Moorad's group of limiteds consisted of 26 members! Fowler fails to answer the question of how many members are in their new ownership group.
  • The owners do not want attention on themselves. Fowler and the O'Malley's have control of the ownership group but will not divulge percentages of their ownership stakes.
  • Garfinkel say that Byrnes made it clear that "Buddy Black is the right manager for this franchise." "The notion that his job is in jeopardy in any way is nonsense."
  • The team is still considering moving the fences of the ballpark to make the park play more neutral. They'll look at it again in a couple weeks.
  • Fowler says that, yes it's true that John Moores took $200 million. "It was not a surprise." They did not expect that money to leave if Moorad had taken ownership. They still thought they could make the deal work.
  • Fowler wants consistency. The term "fire sale" will not be a part of how they do business. They will build through their farm system, but they are going to add in other ways if it's needed.
  • Payroll will go up. If players are good and want to be in San Diego they'll find a way to keep them.
  • Fowler moved to San Diego in '74.
  • Tony Gwynn is involved in the team, he will continue to be under contract. Same goes for the rest of the guys with retired numbers.
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