San Diego Padres co-owners Jose E. Feliciano and Kwanza Jones described their $3.9 billion purchase of the franchise as a 'family investment' during an energetic news conference at Petco Park. Feliciano emphasized their commitment to investing back into the team, stadium, and city while living within their means and balancing ambition with long-term health.

The couple, who were unanimously approved by MLB's 29 other owners in April, aim to win a World Series and honor the legacy of late owner Peter Seidler. Feliciano, a Puerto Rican businessman and co-founder of Clearlake Capital Group, was designated control person, while Jones, a former Division-I track athlete and media entrepreneur, holds equal influence. Their stake in the Padres is reportedly between 30 and 40%.

Other owners include Joey and Jesse Buss, Alfredo Harp Helu, Behdad Eghbali, and members of the Seidler family. Despite a recent frugal offseason keeping payroll at roughly $220 million—ninth in the majors—Feliciano stated plainly: 'We need to win the World Series. It's that simple.' They stressed that Clearlake Capital will not be involved in Padres operations, framing the franchise as an integral community asset.