Feliciano-Jones stake in Padres to be up to 40 percent, with more investors to join: Sources

José E. Feliciano and Kwanza Jones are expected to acquire at least 30 percent — and up to 40 percent — of the San Diego Padres as part of their agreement to purchase the franchise at a record-breaking valuation, multiple people briefed on the deal told The Athletic.The structure of the pending transaction means the previously reported valuation of $3.9 billion — which would smash the MLB record, set in 2020 when Steve Cohen bought 95 percent of the New York Mets at a $2.42 billion valuation — reflects the enterprise value of the Padres rather than the direct investment by Feliciano and Jones. A stake of, say, 35 percent would put the couple’s actual commitment closer to $1.4 billion.Advertisement