Padres owners exploring sale: Seidlers say process will lay 'foundation for the franchise's long-term success'

The Seidler family, owner of the San Diego Padres, announced Thursday that they will "initiate a formal process to explore strategic options" with the franchise, including the possibility of a sale.

"The family has decided to begin a process of evaluating our future with the Padres, including a potential sale of the franchise," chairman John Seidler said in a statement. "We 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. 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. We remain fully committed to this team, its fans, and the San Diego community."

The announcement comes one day short of the two-year anniversary of Peter Seidler's death. Peter's widow, Sheel Seidler, and his brothers, Robert and Matthew Seidler, fought for control of the franchise following his death, with lawsuits being filed and public barbs being traded. Officially, the Padres have been controlled by the Seidler Trust since his death.

The Seidler family took control of the Padres in 2012 and has guided the club to the most successful period in franchise history. San Diego has reached the postseason four times in the last six years after making the playoffs only five times in the team's first 51 seasons. The Padres are still seeking the franchise's first World Series championship, however.

Peter Seidler pumped significant money into the team in an effort to turn the Padres into a contender. They ranked 28th with a $62.9 million payroll in 2012, per Cot's Baseball Contracts. That number ballooned to $110.3 million by 2015 and a franchise-record $257.2 million in 2023, though it has come down since Peter's death. Payroll was $214.7 million in 2025.

Seidler's investment in the roster and the team's return to contention has energized the fan base. The Padres have set a new franchise attendance record each of the last three years, and their revenue has increased so much that they now pay into the league's revenue sharing program rather than receive revenue sharing funds.

The Padres have four players signed through at least 2033: Xander Bogaerts, Manny Machado, Jackson Merrill, and Fernando Tatis Jr. Those four account for roughly $120 million in annual payroll. Jake Cronenworth is signed through 2030 as well. San Diego's position player core is in a good place. They will spend their offseason adding pitching.

Ownership groups for the Minnesota Twins and Washington Nationals put the teams on the market in recent years, but were unable to find a buyer willing to meet their asking price. The Baltimore Orioles were sold for $1.725 billion in 2024. That is MLB's most recent ownership change.