Padres to be sold to Peter O'Malley Group - CBS News 8 - San Diego, CA News Station - KFMB Channel 8

Padres to be sold to Peter O'Malley Group

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SAN DIEGO (CNS) - The San Diego Padres will be sold to a group including former Los Angeles Dodger owner Peter O'Malley, his two sons, two nephews and golf star Phil Mickelson, Fox Sports reported Friday night, based on a source described as having knowledge of the negotiations.

The deal is valued at $800 million, including $200 million for a portion of the team's equity stake in Fox Sports San Diego, according to Fox Sports.

Contractual terms are expected to be completed within the next two weeks, Fox Sports reported.

The group includes O'Malley's sons Kevin and Brian, nephews Peter and Tom Seidler and Ron Fowler, chief executive of Liquid Investments, according to Fox.

The sale by John Moore would require the approval of Major League Baseball.Moores bought the Padres 17 years ago for about $70 million.

The O'Malley family owned the Dodgers from 1950, when they were located in Brooklyn, to 1998.

There was no immediate response from representatives of the Padres and O'Malley seeking comment.

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