Sources: O’Malley pushing to buy Padres
Peter O’Malley, unsuccessful in his effort to regain ownership of the Los Angeles Dodgers, is now trying to buy one of the Dodgers’ NL West rivals.
O’Malley, his son Kevin and nephew Tom Seidler are mounting an aggressive push for the San Diego Padres and want to close a deal by the All-Star break, sources say.
The O’Malley group has signed documents permitting it access to team financial information, sources say, and apparently has raised sufficient equity to purchase the club.
Initial indications are that the group values the Padres at less than half of the Dodgers’ $2.15 billion sale price, and perhaps significantly less.
The Chicago Cubs, who play in a much larger market than San Diego, sold for $845 million in 2009 — and the price included the Cubs’ historic home park, Wrigley Field.
Padres owner John Moores put his team up for sale this month after a failed effort by former agent Jeff Moorad to buy the club.
O’Malley sold the Dodgers in 1998 to News Corp., the owner of FOX Sports, which in turn sold the team to Frank McCourt.
Guggenheim Baseball, fronted by Magic Johnson and incoming team president Stan Kasten, recently agreed to buy the Dodgers from McCourt after unsuccessful bids by O’Malley and others.
“Our family gave the Dodger pursuit everything we had,” O’Malley told the Los Angeles Times. “We were serious suitors. It didn’t happen. I support the new owners and I want them to do well.”
But not as well as the Padres, if he winds up getting the team.