John Moores confirms he’s selling the San Diego Padres, hiring investor advisors from Goldman Sachs to place a value on the team. Forbes estimated the franchise was worth $385 million in its latest round of MLB valuations.
“My strong desire is to stay involved, because the last decade and a half has been a terrific experience,” Moores told mlb.com. “But I have no idea how long this is going to take or how it’s going to turn out. I don’t know at this point what the combination will be and whether I’ll be involved in it.”
The driving force was Moores’ ongoing divorce proceedings. He and his wife own 90 percent of the team, and the pair are working with Goldman Sachs.
John Moores confirms he’s selling the San Diego Padres, hiring financial advisors from Goldman Sachs to place a value on the team. Forbes estimated the franchise was worth $385 million in its latest round of MLB valuations. “My strong desire is to stay involved, because the last decade and a half has been a terrific experience,” Moores told mlb.com. “But I have no idea how long this is going to take or how it’s going to turn out. I don’t know at this point what the combination will be and whether I’ll be involved in it.”