Padres' John Moores Formally Restarts Efforts To Sell Franchise

Padres Owner John Moores yesterday formally restarted his efforts to sell the club following the collapse of a prior agreement with team Vice Chair Jeff Moorad, retaining both Allen & Co. and Moag & Co. to broker a new deal. The move by Moores provides some clarity after weeks of mystery surrounding the club after the removal of a planned vote from the agenda of January's league meeting, Moorad's exit from team day-to-day operations and then his forfeiture of the team's CEO title.

A new sale is likely six to 12 months away, but when it does arrive, it likely will be for significantly more than the estimated $530M deal Moores signed with Moorad in '09. The deal will include the controlling interest in the club and a 20% share in the new RSN the Padres are forming with FSN.