SBD/February 16, 2017/Franchises

Padres' Ron Fowler Disputes Characterization Of His Role In Team's Sale In '12

Padres Exec Chair Ron Fowler said a story describing his role in the sale of the team in ’12 as “broker” is “completely inaccurate,” according to Tom Krasovic of the SAN DIEGO UNION-TRIBUNE. Fowler “forwarded a detailed account of the negotiations that unfolded.” Fowler in the email wrote, “I didn't broker anything. [Former Padres Owner] John Moores had the votes to do anything he wanted. ... My role was to protect the limited partners with 49.32% of the business. I met with (prospective owner) Thomas Tull, the Seidler/O'Malley Group (SOG) and 3 other groups to help answer questions and facilitate a sale.” Fowler added, “I was offered an opportunity to be part of 4 groups and refused dialogue on the subject until John Moores gave the SOG exclusive negotiating rights.” Fowler wrote, “My limited partners were fully aware of all my activities and were comfortable with the way that I handled my fiduciary responsibilities.” Fowler confirmed that when the sale was announced in August ‘12, $200M in Padres TV money “went to Padres investors who were cashing out their shares” as part of the deal. He wrote that this element of the transaction “wasn’t a surprise to any of the bidders.” Fowler: “All parties were notified by MLB during negotiations that the $200 million would be going with the sellers” (SAN DIEGO UNION TRIBUNE, 2/15).
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