FOR IMMEDIATE RELEASE
August 28, 2026
Kwanza Jones Breaks Historic MLB Ownership Barrier in Record $3.9 Billion Padres Deal
Jones becomes the first Black woman principal owner of a Major League Baseball franchise as she and José E. Feliciano begin a new era in San Diego
SAN DIEGO — Investor, entrepreneur and philanthropist Kwanza Jones has broken one of the highest ownership barriers in American professional sports, becoming the first Black woman to serve as a principal owner of a Major League Baseball franchise.
Jones and her husband and longtime business partner, José E. Feliciano, now jointly lead the San Diego Padres ownership group following unanimous approval from Major League Baseball’s owners and the closing of a transaction valuing the franchise at a record $3.9 billion. Feliciano has been designated as the Padres’ control person under MLB governance rules, while Jones is officially listed by the organization as a principal owner.
The transaction represents the highest valuation ever recorded for the sale of an MLB franchise, surpassing the approximately $2.42 billion paid for the New York Mets in 2020. Jones and Feliciano reportedly own more than 40% of the Padres, with additional investors and some existing stakeholders participating in the ownership group.
The couple was officially introduced during an August 24 news conference at Petco Park, where they pledged to pursue the Padres’ first World Series championship while honoring the foundation established by the late Peter Seidler and his family.
“We are all in and committed to winning,” Jones and Feliciano said in their official statement announcing the ownership transition.
More Than a Sports Transaction
For Black Business Review, the significance of Jones’ achievement extends far beyond baseball.
This is not an executive appointment, corporate promotion or ceremonial board seat. It is ownership and control of a multibillion-dollar business asset operating at the intersection of professional sports, media, entertainment, real estate, sponsorship, hospitality, merchandising and intellectual property.
The Padres generate economic value through ticket sales, broadcast and streaming rights, corporate partnerships, premium seating, merchandise, licensing and events at Petco Park. The franchise also possesses the long-term appreciation potential that has made major professional sports teams some of the most coveted assets in the world.
Jones is stepping into an ownership class that has historically remained closed to Black women and largely inaccessible to Black investors overall. Her arrival signals what becomes possible when capital, operating experience and long-term investment strategy converge.
For generations, Black participation in professional sports was concentrated primarily on the field. Players generated extraordinary cultural and financial value, but ownership remained overwhelmingly outside their reach. Jones’ move into the Padres’ principal ownership structure shifts the conversation from representation within the game to equity in the enterprise.
A Career Built Across Capital, Culture and Community
Jones brings an unconventional background to Major League Baseball.
She is an investor, attorney, former NCAA Division I athlete, recording artist and chief executive officer of the Kwanza Jones & José E. Feliciano Initiative, the private family office the couple established in 2014. The organization manages investments across sports, media, private markets and mission-aligned businesses.
Jones earned a bachelor’s degree from Princeton University, a law degree from the Benjamin N. Cardozo School of Law and a Master of Dispute Resolution from Pepperdine University School of Law. She has also served in leadership and advisory positions with the Apollo Theater, UCLA Ronald Reagan Medical Center and Bennett College.
Jones and Feliciano were not newcomers to sports investing before acquiring control of the Padres. Their portfolio includes minority interests connected to the Minnesota Timberwolves, women’s sports and other sports-focused investment platforms.
The Padres acquisition, however, moves Jones from participating in the sports economy to helping direct one of its most valuable franchises.
Building on the Seidler Legacy
The new ownership group takes control from the family of Peter Seidler, whose ambitious investment in the Padres elevated the franchise’s national profile and strengthened its relationship with San Diego.
Jones and Feliciano have said they intend to preserve that community-centered legacy while investing in the organization’s long-term competitiveness. Padres CEO Erik Greupner will continue overseeing day-to-day business operations, while A.J. Preller remains president of baseball operations and general manager.
Their immediate ambition is clear: deliver a World Series championship to a city that has supported the Padres since the franchise’s inaugural season in 1969.
The larger business story is equally important.
Jones has entered one of America’s most exclusive ownership circles without abandoning her focus on community, access and opportunity. Her achievement demonstrates that Black economic advancement cannot stop at employment, visibility or even leadership. The next frontier is ownership of the platforms,
franchises and institutions that shape culture and generate lasting wealth. Kwanza Jones did not simply earn a place inside Major League Baseball.
She acquired a seat at the ownership table—and helped rewrite who can sit there.
“We are all in; it’s not lip service. We are absolutely committed to this organization.”
— Kwanza Jones
BBR Assessment
This is the definition of a 100/100 Power Move. Kwanza Jones is not simply joining a leadership team—she is helping control a $3.9 billion economic engine spanning sports, media, sponsorship, entertainment and real estate. Her historic rise to principal ownership moves the conversation from Black representation inside major institutions to Black ownership of the institutions themselves.
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