Lakers royalty brings championship experience to San Diego as Jesse and Joey Buss join a record-breaking ownership group poised to transform the franchise's front office and roster.
A new era of San Diego Padres baseball is beginning after the approval of the new ownership group.
Kwanza Jones and Jose E. Feliciano purchased the Padres with a whopping $3.9 billion valuation, which marks the most for an MLB team in history.
The new owners had a press conference earlier in the week, and at long last, the new chapter of Padres baseball can begin.
On Wednesday, another domino dropped regarding the ownership group. Joey and Jesse Buss are now joining with the Buss Sports Capital group, according to a report from ESPN's Dave McMenamin.
"Joey and Jesse announced they will be on the new ownership group's advisory board and apply their experience with player development, payroll management and roster construction to support this new era in Padres franchise history. Their stake in the Padres is in the neighborhood of 5%, sources told ESPN," McMenamin wrote.
Joey Buss released a statement saying that they are "honored" to be a part of the franchise, while also saying that it is a "tremendous opportunity."
"The Padres are on the cusp of something special, and through Buss Sports Capital, we look forward to bringing our experience and perspective to the ownership group and doing our part to build on the strong foundation already in place," the statement concluded.
The Buss brothers have plenty of experience working with professional sports teams.
This news comes just a week after five of the Buss siblings agreed to sell their remaining 17.8% ownership stake in the Lakers to Josh Kushner and Bob Iger, although Jeanie Buss is still fighting back against the move.
This also marks the first monster move by Buss Sports Capital since it launched, although McMenamin added that the group is pursuing the purchase or an NBA team with rumors swirling about Europe as a destination in the near future.
As for the new Padres owners, they had a press conference and continuously expressed their excitement about being able to purchase the franchise.
Today is a dream come true,” Feliciano said in his opening statement. “It’s an amazing day for us. We’re very grateful. Very honored to be here with you. And to celebrate today as now the newest members of the Padres family.”
Now, the Buss brothers are added to the group in a stellar move by the Padres, and this might not be the last domino to fall regarding the new ownership group in America's Finest City.
