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Tuesday, February 03, 2009 |
Jeff Moorad Purchases Padres
As expected, Jeff Moorad has reached an agreement to buy the Padres from John Moores. The agreement will start with a 30% ownership share, increasing to 100% over a five-year period. The dollar figure is not immediately know, but it is expected to be in excess of $400M.
Moores will become CEO of the Padres, replacing Sandy Alderson in that role. Gaslamp Ball thinks Paul DePodesta may also be a victim of this move.
Earlier: ESPN: Jeff Moorad Reaches Agreement In Principle For Padres Sale
John Moores To Sell 49% Of Padres
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