New Padres owner holds press conference

The sale of the San Diego Padres to a group led by the former chief executive officer of the Arizona Diamondbacks and a former sports agent has been finalized, it was announced today.

According to the Padres, Jeff Moorad and his group will buy the franchise from John Moores for an undisclosed sum over a five-year period, subject to approval by Major League Baseball.

Moorad will assume the role of the Padres vice chairman and chief executive officer immediately, according to the franchise.

Moores introduced Moorad during a news conference today at Petco Park. “I am excited about joining the Padres and am honored to be part of the transition of ownership of this great franchise,” Moorad said.

“The Padres have a rich tradition, both on the field and in the community,” he said. “I am anxious to do all that I can to extend the legacy and join San Diegans as a proud member of the “Friar Faithful.”’

In a statement, Moores said he will “retain some responsibility for the club until Jeff gains control in the next several years.”

Moorad, a former player representative for professional baseball and football players, resigned in January as chief executive officer and general partner of the Arizona Diamondbacks.

Moores bought the Padres in 1995 for about $80 million.

Related posts:

  1. Padres agree to sell
  2. Owner of Padres gives $2.1 million to Scripps
  3. LT holds press conference
  4. Padres agree to terms with 29 players
  5. Padres lower concession prices

Short URL: http://www.delmartimes.net/?p=5341

Posted by Pat Sherman on Mar 26, 2009. Filed under Archives. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry

Leave a Reply

Archives

Facebook

Bottom Buttons 1

Bottom Buttons 2

Bottom Buttons 3

Bottom Buttons 4

Bottom Buttons 5

Bottom Buttons 6

LA JOLLA NEWS

RSS LA JOLLA NEWS

RANCHO SANTA FE NEWS

RANCHO SANTA FE NEWS

RSS RANCHO SANTA FE NEWS

  • Torrey Pines High School baseball alum Taylor Murphy excelling in pro ball
    It was during a breakout senior year at Torrey Pines High that Taylor Murphy first popped up on the radar of professional scouts. Shortly after graduation, Murphy was selected by the San Diego Padres in the 40th round of the June 2011 amateur draft. He declined, honoring a commitment to the University of the Pacific. Three years later, Murphy got another sho […]
  • Why Hire a Licensed Landscape Professional?
    By Steve Jacobs, Nature Designs The old saying – “if something seems to good to be true, it probable is” – is quite fitting when it comes to hiring a contractor for your home or yard construction project. While it is smart to shop around, get quotes, etc., don’t fall into the trap of trusting […]
  • Nonprofit Pegasus Rising in urgent need of a new home for horses
    The horses of Pegasus Rising are in need of a rescue again: After six years at the Valenti Ranch in Rancho Santa Fe, the organization that provides equine therapy to military personnel is in urgent need of a new home. They need to be out by Aug. 15. […]