Clearlake Capital co-founder Jose E. Feliciano, a part-owner of the Blues, and his wife, Kwanza Jones are set to spend big on a completely different sporting franchise
Clearlake Capital co-founder Jose E. Feliciano is set to buy out the San Diego Padres for a staggering £3 billion, as the Chelsea co-owner expands his impressive sporting portfolio.
Speaking at the Sports Business Journal’s CAA World Congress of Sports, the firm’s co-founder in Behdad Eghbali, who through Clearlake part-owns the Blues with Todd Boehly and other investors, spoke on reports linking his business partner to the Padres.
He explained: “We have and I think we will continue to be investors. I’ve read some of the same headlines that Jose is one of the bidders in the Padres process, but we’ll leave that to the process.”
Feliciano and Eghbali are known by Chelsea fans for their ownership stake in the Premier League club. However, Feliciano’s process in bidding on the Padres shows that the Blues’ owners are interested in expanding their sporting portfolio.
Speaking about the evolving landscape, Eghbali added: “Sports is a category where we think there’s a lot of growth.
“It’s a category where live events – sports – we think will be a mainstay investment category for investors in the decades to come.”
The Padres are thought to be currently looking at a transition in ownership following the death of Peter Seidler in 2023. Seidler owned the Padres from 2012 onward, and the franchise remains under the stewardship of his family following his passing.
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However, Feliciano is not alone in his interest in the MLB organisation. Other interest has arisen from a group led by Joe Lacob – who is the principal owner of the NBA’s Golden State Warriors among others.
Elsewhere, another group led by Dan Friedkin, who is the majority owner of Everton and Roma, is also thought to be involved.
Tom Gores, who owns the NBA’s Detroit Pistons, also heads another group, as he looks to expand his own sporting portfolio.
Clearlake Capital and Tod Boehly completed their takeover of Chelsea in May 2022 in a deal worth £4.25billion, having been listed for sale in the March.
Speaking about the acquisition at the time, Boehly said: “We are honoured to become the new custodians of Chelsea Football Club.
“We’re all in – 100% – every minute of every match.
“Our vision as owners is clear: we want to make the fans proud.
“Along with our commitment to developing the youth squad and acquiring the best talent, our plan of action is to invest in the club for the long term and build on Chelsea’s remarkable history of success.
“I personally want to thank ministers and officials in the British government, and the Premier League, for all their work in making this happen.”
