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Chelsea co-owner José E. Feliciano is reportedly closing in on a deal to acquire the San Diego Padres for an estimated $3.9 billion—the highest price ever paid for a Major League Baseball franchise in history.
Feliciano was among the group that purchased Chelsea from Roman Abramovich in 2022. The Puerto Rico-born entrepreneur co-founded Clearlake Capital with Behdad Eghbali, a global investment firm that spearheaded the consortium that acquired Chelsea for $5.24 billion four years ago.
Clearlake Capital has since held majority ownership of Chelsea with a 61.85% stake in the Premier League club. Together with minority stakeholders Todd Boehly, Mark Walter, and Hansjörg Wyss, Clearlake established the BlueCo ownership group, which also includes Ligue 1 club Strasbourg.
Now, The Athletic reports that Feliciano, along with his wife Kwanza Jones, have finalized a deal to take ownership of the Padres at a price that obliterates the previous record for an MLB franchise purchase—set by billionaire Steve Cohen when he acquired the New York Mets for $2.42 billion in 2020.
A formal announcement is anticipated next week, though Padres players—including star third baseman Manny Machado—have revealed that he has already held preliminary discussions with the incoming ownership group and is "looking forward to meeting them."
Feliciano Joins Premier League Owners With U.S. Sports Ties
Feliciano now joins an expanding list of Premier League owners who also hold stakes in franchises across major U.S. sports leagues. Notably, Feliciano and Jones reportedly outbid three competing groups for the Padres, including one led by Everton owner Dan Friedkin.
American influence in the Premier League has surged over the past two decades through various ownership groups. Currently, 11 clubs competing in the 2025–26 Premier League season are backed by majority American ownership.
Among the Premier League's so-called "big six," only Manchester City and Tottenham Hotspur are not under U.S. ownership. The Glazer family, who also own the Tampa Bay Buccaneers NFL franchise, set the precedent when they took control of Manchester United in 2005.
Arsenal owner Stan Kronke also holds franchises in MLB, NHL, and MLS. Liverpool's Fenway Sports Group owns the Boston Red Sox and the NHL's Pittsburgh Penguins, while Leeds United are overseen by the San Francisco 49ers ownership group. New York Jets owner Woody Johnson holds a controlling interest in Crystal Palace, while Bournemouth and Fulham's majority owners also run the Las Vegas Golden Knights and the Jacksonville Jaguars, respectively.
Within BlueCo itself, Feliciano will become the second prominent figure to hold a stake in an MLB franchise, creating an intriguing dynamic with the public face of Chelsea's ownership group: Boehly.
Feliciano and Boehly on Different Sides of Bitter Rivalry
Boehly has held a 20% stake in back-to-back MLB champions the Los Angeles Dodgers since 2012—he also maintains a minority interest in the Los Angeles Lakers. The Dodgers have claimed three World Series titles since the start of the decade, eliminating the Padres twice along the way.
Feliciano will take the helm of the Padres and immediately find himself at the center of one of MLB's fastest-growing rivalries, squaring off against Boehly's Dodgers. The two division rivals have produced some of the most electrifying playoff matchups in recent years.
Additionally, San Diego and Los Angeles boast two of the deepest rosters in the sport, featuring some of the game's brightest stars.
Feliciano and Boehly may be united in their pursuit of returning Chelsea to the summit of the Premier League. However, on the MLB diamond, the two Chelsea co-owners will find themselves on opposing sides of a fiercely contested rivalry.