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SBD/May 30, 2012/Franchises
Phil Mickelson Joins Peter O'Malley Family's Bid To Purchase Padres
Published May 30, 2012
A GOOD FIT: Golf Channel's Jerry Foltz said Mickelson "would be fantastic" as part of the Padres ownership because the owners that "have had the most success are the ones that are personable people, that are out there in front of the public, that are out there in front with their team, that are glad-handing." Foltz: "I think Phil would have a lot of success. I can't think of another guy who as an owner that I think would be as successful, except maybe Freddie Couples” (“Morning Drive,” Golf Channel, 5/29). ESPN’s Tony Kornheiser said, “Michael Jordan bought the Bobcats. Magic Johnson bought the Dodgers. Three is a trend” (“PTI,” ESPN, 5/29).
OPENING THE BOOKS: Moores said that three groups "have been approved by Major League Baseball to review the financial records" of the Padres for a possible purchase of the franchise. He added that he “expects that number to reach at least six before the bidding on the club is complete.” Moores: “I can’t give you a timetable, but I remain optimistic. There’s no reason for me to believe that we won’t have a sale in place by the end of the season.” He said that the three groups that "have received MLB approval” include Tull, O’Malley, and SAC Capital Advisors Founder and Mets investor Steve Cohen (MLB.com, 5/25). FORBES' Mike Ozanian reported that Moores is "asking for between $600 and $650 million for the Padres after he pockets a $200 million upfront payment on the team's new television deal that is worth $1.4 billion over 20 years." The Padres' deal with FS San Diego gives the team "a 20% equity state in the regional sports network and carries with it an average annual rights fee" of $50M (FORBES.com, 5/29).