The San Diego Padres are on the brink of being sold for a record $3.9 billion to Jose E. Feliciano, co-owner of Chelsea Football Club, and his wife, Kwanza Jones. This sale price easily surpasses the previous record of $2.4 billion, set by Steve Cohen during the purchase of the New York Mets in 2020. The sale must receive approval from 75% of Major League Baseball's owners, with the next owners' meetings slated for June. Feliciano, aged 53, is the co-founder and managing partner of Clearlake Capital, a private-equity firm based in Santa Monica. His consortium previously purchased Chelsea for $5.24 billion in 2022. In acquiring the Padres, Feliciano and Jones outbid notable contenders, including Tom Gores, owner of the Detroit Pistons, Joe Lacob, owner of the Golden State Warriors, and businessman Dan Friedkin. The team was put up for sale by the family of late owner Peter Seidler in November.