By Fitzgerald Cecilio

San Diego, CA

The San Diego Padres have been sold to a group headed by former Los Angeles Dodgers owner Peter O'Malley for a reported $800 million, FoxSports.com reported.

Padres owner John Moores has also decided to include in the deal the $200 million for portion of team's equity in Fox Sports San Diego. Contractual terms are expected to be completed within the next two weeks and sale should be approved by Major League Baseball.

Moores bought the Padres 17 years ago for about $70 million.

The winning group includes O'Malley's sons Kevin and Brian, nephews Peter and Tom Seidler and Ron Fowler, chief executive of Liquid Investments. Professional golfer Phil Mickelson also will be an investor.

The O'Malley family owned the Dodgers from 1950, when they were located in Brooklyn, to 1998. O'Malley's group edged the other finalist headed by Gary Jabara, founder and CEO of Mobilitie.

Earlier this week, Commissioner Bud Selig said he welcomed the return of the O'Malley family to baseball.

"San Diego fans and the club deserve a good ownership, great ownership, and assuming this deal goes through -- and it hasn't yet -- so we'll have to wait a little bit, but it's great," Selig said.

"The O'Malley tradition is remarkable, going all the way back to Brooklyn and to Walter and on to Peter, and now you're getting the sons and the nephews involved. Plus the San Diego club's minority partners in the last deal were a very solid group and all San Diego people, which means a great deal to us, are all going to be involved," he added.

"It's a little premature for me to comment, but this is an excellent development for baseball to say the least," the commissioner said.

 

 

Padres Sold to Former Dodgers Owner for $800 Million