Bloomberg News

O’Malley Family, Phil Mickelson Said Close to Buying Padres

June 27, 2012

A group that includes the family of former Los Angeles Dodgers owner Peter O’Malley and golfer Phil Mickelson is close to buying baseball’s San Diego Padres from John Moores, a person with direct knowledge of the transaction said.

The purchase group also includes Ron Fowler, chairman of closely held Liquid Investments Inc., a Del Mar, California- based beer distributor. Fowler was a member of the group led by Jeff Moorad, whose agreement to buy the Major League Baseball team was scuttled.

The sale may be completed as soon as this week, said the person, who asked not to be identified because the deal isn’t finished.

Padres spokeswoman Sarah Farnsworth had no comment. T.R. Reimer, a spokesman for Mickelson, didn’t immediately return a telephone message seeking comment.

The sale price, according to the San Diego Union-Tribune, is about $800 million, including $200 million in up-front television money from the team’s new broadcast contract with News Corp.’s Fox.

The Padres are worth $458 million, according to Forbes.

The Dodgers were sold in March to a group that includes basketball Hall of Fame player Magic Johnson and Guggenheim Partners executive Mark Walter for a record $2.1 billion.

The O’Malley family moved the Dodgers to Los Angeles from Brooklyn, New York, after the 1957 season. The family sold the franchise to News Corp. in 1998.

To contact the reporter on this story: Scott Soshnick in New York at ssoshnick@bloomberg.net

To contact the editor responsible for this story: Michael Sillup at msillup@bloomberg.net


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