SBD/June 15, 2012/Franchises

Gary Jabara, Steve Kaplan, O'Malley Family Believed To Be Padres' Three Remaining Bidders

The Padres currently rank last in MLB player payroll, coming in at about $55M
Newport Beach-based Mobilitie Founder & CEO Gary Jabara "is the leader of one of three groups believed to remain in the running" to buy the Padres, according to Bill Shaikin of the L.A. TIMES. Mobilitie is "involved in the ownership, management and development of cell phone towers." L.A.-based Oaktree Capital Principal & Dir Steve Kaplan "also heads a group pursuing the Padres." Jabara and Kaplan join former Dodgers Owners the O'Malleys "as the apparent finalists for the Padres." Reports indicate that the "proposed sale price" is $800M (LATIMES.com, 6/14). In San Diego, Brent Schrotenboer notes the O'Malley family's bid "is joined by" golfer Phil Mickelson (SAN DIEGO UNION-TRIBUNE, 6/15). CBSSPORTS.com's Jon Heyman notes while Padres Chair John Moores "may well get" upwards of $800M, some interested parties "think his asking price can't be justified by the Padres' low revenues." Despite the "seemingly high price tag, it appears Moores still has at least two potential buyers in the bidding ... and maybe even three." Sources said that $800M "was the qualifying offer just to make it into the final three." Heyman: "Some believe that the low-revenue Padres at $800 million plus is just as crazy as the Dodgers' record price, if not more." A source said that he believes the Padres are "a money loser" if the player payroll exceeds $35M, "a paltry sum for a baseball team." The Padres are currently "last in player payroll" at about $55M. Moores' $800M price tag "is said to come from" $600M for the team plus a $200M "piece of the team's new lucrative TV deal with Fox" (CBSSPORTS.com, 6/14).
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