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Tom Gores is looking to expand his sports portfolio.
The Detroit Pistons' billionaire owner is in the running to purchase the San Diego Padres, a source with knowledge of the situation confirmed to the Free Press. The story initially was reported by The Athletic. Gores, the founder of Beverly Hills-based private equity firm Platinum Equity, also owns a 27% stake of the Los Angeles Chargers.
According to The Athletic, the Padres could sell for more than $3.5 billion – which would set a new record for the MLB. The previous MLB record was set by the New York Mets, who were purchased for $2.42 billion by Steve Cohen in 2020.
ON THE COURT: Kevin Huerter finally delivering value for Detroit Pistons after trade
Gores is reportedly bidding against three other groups led by billionaires José E. Feliciano, Dan Friedkin and Joe Lacob. Feliciano is the co-founder of investment firm Clearlake Capital, which owns Chelsea Football Club.
Friedkin, the chairman and CEO of The Friedman Group, is the owner and chairman of Everton FC and AS Roma.
Lacob is the principal owner of both the Golden State Warriors and Golden State Valkyries.
Watch our podcast, "The Pistons Pulse," discuss the Cade Cunningham injury fallout, the playoff chase and more:
This article originally appeared on Detroit Free Press: Detroit Pistons owner Tom Gores in mix to buy San Diego Padres
Continue reading...
The Detroit Pistons' billionaire owner is in the running to purchase the San Diego Padres, a source with knowledge of the situation confirmed to the Free Press. The story initially was reported by The Athletic. Gores, the founder of Beverly Hills-based private equity firm Platinum Equity, also owns a 27% stake of the Los Angeles Chargers.
According to The Athletic, the Padres could sell for more than $3.5 billion – which would set a new record for the MLB. The previous MLB record was set by the New York Mets, who were purchased for $2.42 billion by Steve Cohen in 2020.
ON THE COURT: Kevin Huerter finally delivering value for Detroit Pistons after trade
Gores is reportedly bidding against three other groups led by billionaires José E. Feliciano, Dan Friedkin and Joe Lacob. Feliciano is the co-founder of investment firm Clearlake Capital, which owns Chelsea Football Club.
Friedkin, the chairman and CEO of The Friedman Group, is the owner and chairman of Everton FC and AS Roma.
Lacob is the principal owner of both the Golden State Warriors and Golden State Valkyries.
Watch our podcast, "The Pistons Pulse," discuss the Cade Cunningham injury fallout, the playoff chase and more:
This article originally appeared on Detroit Free Press: Detroit Pistons owner Tom Gores in mix to buy San Diego Padres
Continue reading...
