Padres sale agreement in place, needs MLB approval
John Moores has agreed to sell the San Diego Padres to a group headed by former Los Angeles Dodgers owner Peter O'Malley and including pro golfer Phil Mickelson.
O'Malley is the son of Walter O'Malley, who bought the Brooklyn Dodgers in 1950 and moved them to Los Angeles before the 1958 season.
U-T San Diego first reported Monday night that a purchase agreement had been signed.
The purchase price is believed to be around $800 million and apparently includes the $200 million in upfront money the Padres received from Fox Sports San Diego in a $1.2 billion, 30-year TV deal.
The agreement, which must be approved by MLB owners, comes months after Jeff Moorad's attempt to buy the team on a layaway plan fell apart.
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