AP Source: Sale of Padres Appears Close - CBS News 8 - San Diego, CA News Station - KFMB Channel 8

AP Source: Sale of Padres Appears Close

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SAN DIEGO (AP) - The sale of the San Diego Padres from John Moores to former agent Jeff Moorad appears to be almost finalized.

The two sides were close to wrapping up the sale, a baseball official with knowledge of situation told The Associated Press on Wednesday night, speaking on condition of anonymity because the deal hasn't been announced.

Also Wednesday night, the North County Times reported on its Web site that Padres CEO Sandy Alderson will resign Thursday, according to sources with knowledge of the situation.

Moorad announced on Feb. 3 that he and a group of investors intended to acquire 100 percent ownership during a period of up to five years, subject to approval by baseball owners.

Later that day, Alderson announced that he will leave the organization once the deal closes.

Moorad resigned as chief executive officer of the Arizona Diamondbacks in early January to pursue the purchase of the Padres.

The deal values the team at $500 million. When it closes, Moorad will be CEO of a club that lost 99 games in 2008, its worst finish in 15 seasons.

Moores, the majority owner since December 1994, will remain the chairman.

Neither Alderson nor Moorad returned phone messages Monday night, and Moores didn't return an e-mail.

The sale was precipitated by Moores' difficult divorce from his wife, Becky.

On the day he resigned from the Diamondbacks to pursue the purchase, Moorad called the Padres "a jewel of a franchise."

Moorad was a formidable agent who represented several major sports figures, including baseball's Manny Ramirez and Eric Karros, before he purchased a share of the Diamondbacks in 2004.


AP Baseball Writer Ronald Blum in New York contributed to this report.

Copyright 2009 The Associated Press.

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