O’Malley Family Looking to Buy Padres
John Moores, who recently inherited control of the Friars following Jeff Moorad’s failed bid to purchase the club, is evidently not wasting any time moving forward with a second attempt to transfer ownership. Ken Rosenthal of Fox Sports reported this morning that Peter O’Malley, the former owner of the L.A. Dodgers and who recently failed in his bid to buy back his old club, has signed documents giving the group he fronts permission to review the Friars financial information. They’ve also raised enough equity to complete the purchase of the club according to Rosenthal’s report.
O’Malley, along with his son Kevin and nephew Tom Seidler would like to complete a deal ahead of this year’s All-Star break. Rosenthal also says, “initial indications are that the group values the Padres at less than half of the Dodgers’ $2.15 billion sale price, and perhaps significantly less.”
The O’Malley group joins Dennis Gilbert as known potential suitors of the club. MLB reportedly has encouraged Gilbert, another former player agent, to pursue the Padres after he, like O’Malley, failed in his attempt to buy the Dodgers. Bill Shaikin in this L.A. Times article, mention’s MLB’s “encouragement,” and even suggests that Gilbert, or anyother prospective buyer, attempt to recruit Tony Gwynn into their ownership group to serve as the face; much like Magic Johnson is with the Dodgers ownership.
I don’t know about Gilbert but I would be on board with the O’Malley group. O’Malley inherited ownership of the Dodgers from his father Walter in 1979 before selling the club to Fox in 1998. During that span the Dodgers had a 0.521 winning percentage, made six post-season appearances and won two World Series championships. That type of record would suit me just fine here with the Padres.
Check back tomorrow for my piece on the qualities I want to see in any new owner or ownership group. Also, I have a new twitter account, @gkm_Friarhood. Please give me a follow. Thanks for reading.