Tuesday, April 10, 2012

Sale of the Padres

John Moores and two brokers talked to the press today about Moores's plan for the sale of the Padres. For the early updates, you'll want to check my Twitter feed @tomkrasovic.

Here's a summary of what was said: It takes about nine months to a year to sell a ballclub, but a deal could happen sooner. Moores and the brokers suggested that soaring TV rights fees and the sale of the Dodgers will inflate the price of the Padres. The club's 20-percent equity stake in Fox Sports San Diego will be part of the sale. It's unclear, Moores said, whether some of Jeff Moorad's limited partners will be among the bidders. Moores said he was kept "out of the loop" about the objections to Moorad within the industry. Moores also said the league's Web site incorrectly reported that Moores bought a 51 percent stake in FS San Diego.

Asked why he's selling, Moores said, "It's time. This is my 18th season. I'm clearly on the long end of ownership."

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