Report: Padres sold to group including Phil Mickelson

Report: Padres sold to group including Phil Mickelson
August 7, 2012, 4:14 pm
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Larry Baer will have another new NL West ownership group tobond with, including one member who could certainly impress Baer on the golfcourse.The San Diego Padres became the second divisional club to besold this year, with majority ownership moving from John Moores to a groupheaded by San Diegobusinessman Ron Fowler, according to MLB.com.Fowlers group, which will buy the team for 800million, includes former Dodgers owner Peter OMalley's nephews and children and four-time major champion golfer Phil Mickelson.Although the sale cannot be officially completed until it isapproved by 75 percent of the other MLB owners, which will likely come at their Aug. 16quarterly meeting, such an approval is unlikely to be problematic.Mooreshad been trying to sell the Padres since March 2009 when he struck a deal witha group headed by Jeff Moorad that never got MLB approval.It's been a long time coming, Moores told MLB.com. It's on the agenda forthe August meeting, and I'm optimistic that Commissioner Bud Selig and theother 29 owners will approve it.Fowler currently heads the group of limited Padres partners,who hold a 49-percent stake in the ballclub. Once the sale is approved, he isexpected to represent the Padres at all league meetings.The breakdown of the deal with Moorad could not have workedout much better for Moores, who will see an extra 275 million as a result.Moorad had agreed to by the Padres for 525 million, but that was before theDodgers historic 2 billion sale in May.There's no question that the market lifted in the lastyear, Mooressaid. A lot of that seems to be attributable to the new generation of TVcontracts.The Padres signed a new 1.2 billion television contractwith FOX this year, and 200 million from that deal will be included in thetotal 800 million sale package, according to Scott Miller of CBSSports.com.

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