Post by prossman on Mar 27, 2009 14:25:21 GMT -7
Aikman part of new San Diego Padres ownership group
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Padres begin process of changing ownership
San Diego Padres majority owner John Moores began the process of selling the team to a group led by Jeff Moorad, former CEO of the Arizona Diamondbacks, as the two sides announced the closing of a one-third interest in the team at a Thursday news conference.
The group led by Moorad signed a contract with Moores on February 3 to eventually purchase 100 percent ownership of the team. The deal, which was subsequently approved by Major League Baseball, will be completed over a span of five years.
"The Padres opportunity offers me a chance to come home and I'm thrilled about it," Moorad, a Modesto, CA native, said on Thursday. "This is a jewel of a franchise. This organization has a terrific foundation. We play in a winnable division. We'll have some challenges as we go forward in the short term but my goal is to have a consistently winning franchise. It won't happen overnight. We're going to invest in the future and make investments to ensure this franchise will have success over time."
Moorad went on to say he will also focus on maintaining an affordable product for fans and to promote community involvement with the franchise. He also divulged several names of the group involved with the purchase, most notably former three-time Super Bowl champion and Dallas Cowboys quarterback Troy Aikman.
A number of local investors were also named including businessmen Wayne Seltzer, John McEvoy, Al Baldwin, Rick Berry and Jay Stein along with Bob Piccinini, CEO of Save-Mart supermarkets and Tom Davin, CEO of the Panda Restaurant chain.
The initial one-third interest of the franchise changing hands allows Moores to remain the Padres' control person, representing the club at owners' meetings and sitting on numerous committees until a controlling interest is purchased. Moores purchased the club in December of 1994 for $82 million.
"I anticipate that I'll remain the control person for three years," said Moores back in February. "[Moorad] has to reach a certain threshold of percentage of ownership before he becomes control person. And then that will be it for me."
Moorad had been a general partner and CEO of the Diamondbacks from 2004 until early this year. Before joining the Diamondbacks, Moorad served as player agent for such star athletes as Manny Ramirez, Will Clark, Steve Young, Warren Moon and Shawn Green. He brokered Ramirez's eight-year, $160 million contract with the Red Sox prior to the 2001 season.
www.modbee.com/mlb/story/644105.html
__________________
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Padres begin process of changing ownership
San Diego Padres majority owner John Moores began the process of selling the team to a group led by Jeff Moorad, former CEO of the Arizona Diamondbacks, as the two sides announced the closing of a one-third interest in the team at a Thursday news conference.
The group led by Moorad signed a contract with Moores on February 3 to eventually purchase 100 percent ownership of the team. The deal, which was subsequently approved by Major League Baseball, will be completed over a span of five years.
"The Padres opportunity offers me a chance to come home and I'm thrilled about it," Moorad, a Modesto, CA native, said on Thursday. "This is a jewel of a franchise. This organization has a terrific foundation. We play in a winnable division. We'll have some challenges as we go forward in the short term but my goal is to have a consistently winning franchise. It won't happen overnight. We're going to invest in the future and make investments to ensure this franchise will have success over time."
Moorad went on to say he will also focus on maintaining an affordable product for fans and to promote community involvement with the franchise. He also divulged several names of the group involved with the purchase, most notably former three-time Super Bowl champion and Dallas Cowboys quarterback Troy Aikman.
A number of local investors were also named including businessmen Wayne Seltzer, John McEvoy, Al Baldwin, Rick Berry and Jay Stein along with Bob Piccinini, CEO of Save-Mart supermarkets and Tom Davin, CEO of the Panda Restaurant chain.
The initial one-third interest of the franchise changing hands allows Moores to remain the Padres' control person, representing the club at owners' meetings and sitting on numerous committees until a controlling interest is purchased. Moores purchased the club in December of 1994 for $82 million.
"I anticipate that I'll remain the control person for three years," said Moores back in February. "[Moorad] has to reach a certain threshold of percentage of ownership before he becomes control person. And then that will be it for me."
Moorad had been a general partner and CEO of the Diamondbacks from 2004 until early this year. Before joining the Diamondbacks, Moorad served as player agent for such star athletes as Manny Ramirez, Will Clark, Steve Young, Warren Moon and Shawn Green. He brokered Ramirez's eight-year, $160 million contract with the Red Sox prior to the 2001 season.
www.modbee.com/mlb/story/644105.html
__________________