Meet your new owner of the San Diego Padres…Jeff Moorad!

Posted on January 6th, 2009. Written by Emmett Jones.

You’re overwhelmed with excitement, aren’t you? You might remember Jeff Moorad as the CEO of the Arizona Diamondbacks [Ed: You do? What is wrong with you?].  Well, no longer.  He resigned from that job to set his sights on greener warmer other climates.  The San Diego Union-Tribune has the info,

Moorad said Friday he heads a “small but significant” group of investors that has an exclusive right to complete the specifics of negotiations with Padres owner John Moores. Moorad said he hopes the transaction can be completed in the next three months…

The Moores reportedly own 90 percent of the Padres. Community property laws in California give Becky Moores a 50 percent share of that asset and she must agree to any sale. [Ed: They're in the midst of a divorce right now]

Moorad said he would be the majority owner if the deal goes through. He would have to sell his share of ownership in the Diamondbacks if the Padres deal is finalized…

Sports Business Daily (subscription required) has the deal estimated at $400 million.  For the sake of comparison, Moorad bought into the San Diego Padres in 1994 for a little over $80 million.  And they say that we’re in a recession….Ha!

A more telling statistic?  The Yankees new stadium, for all of you who may have forgotten has an estimated price tag of $1.3 billion dollars.

Although I hardly think this move would have the brevity of a blockbuster trade (Are we going to see D’backs fans holding up signs calling Moorad a sell out? not quite) this move still is fairly interesting.  Since joining the Diamondbacks in 2004, Moorad has helped to increase team revenue and the overall value of the team (see 2005 and 2007 comparisons), with the economy currently in a depression recession (keep it positive, right?), if Moorad is able to work similar magic with the Padres, then the situation may be a little more valuable than previously expected.

San Diego Union-Tribune:  Moorad resigns from D’Backs; plans to buy Padres

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1. 

   sports_business

   August 23, 2010 • 9:18 am

   Arizona Diamondbacks raise ticket prices for 2011 http://goo.gl/fb/Sn7qk #sportsbiz #baseball #arizonadiamondbacks

   This comment was originally posted on Twitter
2. 

   handsonsports

   August 23, 2010 • 10:51 am

   Bad team but still…RT @sports_business Diamondbacks raise ticket prices for 2011 http://goo.gl/fb/Sn7qk #sportsbiz #baseball

   This comment was originally posted on Twitter

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