Topline

The $3.9 billion acquisition of the San Diego Padres was approved Monday, greenlighting entrepreneur Kwanza Jones and Clearlake Capital co-founder José Feliciano as the franchise’s new owners.

Key Facts

Feliciano and Jones, who are married, are purchasing more than 40% of the Padres, The Athletic reported, noting “other individuals and entities” are joining the couple at a smaller combined percentage.

Feliciano, who is a co-founder of Chelsea FC owner and investment firm Clearlake Capital, will become the Padres’ control person.

Padres CEO Erik Greupner will continue leading day-to-day operations alongside general manager A.J. Preller.

This is a developing story. Check back for updates.