Bill Shaikin of the Los Angeles Times reports that there are three parties left in the running to buy the Padres:
- Gary Jabara, the founder of a Newport Beach wireless communications company;
- Steve Kaplan, principal at Oaktree Capital in Los Angeles; and
- Peter O’Malley, former owner of the Dodgers.
More so than the owners’ identities, however, I am interested in the reported sales price: $800 million. Arte Moreno bought the Angels for $180 million ten years ago. The Cubs more recently sold for around $800 million. Now the Padres, a less-successful franchise with a smaller fan base in a smaller town than either of those two teams is about to be sold for that amount the Cubs went for.
The mind kind of reels, no?