Moores to sell the Padres

It’s the divorce that keeps on taking:

San Diego Padres owner John Moores told this weekend that he has hired Goldman Sachs to identify potential buyers for the ballclub.
Moores, who bought the team in 1995 for approximately $80 million, said the international banking firm has been hired as a financial advisor to study selling the team either in its entirety, in part or not at all.

“My strong desire is to stay involved, because the last decade and a half has been a terrific experience,” Moores said in a telephone interview. “But I have no idea how long this is going to take or how it’s going to turn out. I don’t know at this point what the combination will be and whether I’ll be involved in it.”

By virtue of the community property laws, Moores’ soon-to-be-ex-wife Becky has to approve of any sale. If life was a sitcom, the part of Becky would be played by Delta Burke or someone sassy like that and this fact would lead to all kinds of wonderful zaniness.

Life is not a sitcom, however, so what’s going to happen to the Padres over the next couple of years is going to be crushingly ugly, bringing amusement to only those fans who live in Los Angeles, San Francisco, Denver, and Phoenix.

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  1. Pete Toms said...

    The sale of the Cubs and Padres will be great indicators of the financial health of MLB.

    Already Bloomberg has reported that the Cubs bids came in noticably below $1 billion, a big change from the oft speculated $1.3 billion. ( IIRC, I read the link this AM, it speculates that the Cubs will fetch $1.3 billion ).

    I don’t think there is gonna be overwhelming demand for the Padres ( Lucchino’s name has surfaced, he ain’t a money guy though ). 

    And, are the Jays for sale?

  2. Richard Dansky said...

    I’m waiting for the first Russian billionaire to try buy in to MLB after failing to land a Premiere League football squad. Won’t that be an interesting approval process…

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