For more than a century, Major League Baseball has remained one of America’s most influential sports institutions. Yet since its modern formation in 1903, no Black woman has ever held a majority ownership stake in a franchise. This reality could soon change with businesswoman and philanthropist Kwanza Jones at the forefront of a landmark $3.9 billion deal to acquire the San Diego Padres.
Last Saturday, the family of late Padres owner Peter Seidler announced an agreement to sell the franchise to an investor group led by Jones and her husband, José E. Feliciano. The reported valuation would set a new MLB record, surpassing the $2.4 billion paid for the New York Mets in 2020 by owner Steve Cohen.
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If approved, the acquisition would mark several historic milestones. Jones would become the first Black woman majority owner in MLB history, while Feliciano would become the league’s second Latino majority owner and the first of Puerto Rican descent, joining Arte Moreno of the Los Angeles Angels.
“We have worked hard for everything we have achieved, and we have built it together,” Jones and Feliciano said in a joint statement. “We see that same spirit in this team and its fans, and we know what it takes to win.”
Jones’ rise reflects a career defined by achievement across business, entertainment, education, and philanthropy. While attending Princeton University, she won Amateur Night at the Apollo Theater before later earning a law degree from Benjamin N. Cardozo School of Law and a master’s degree in dispute resolution from Pepperdine University.
Beyond academia, Jones built an independent music career and launched a motivational media company while also becoming a major force in philanthropy. Together, she and Feliciano have contributed more than $200 million toward educational equity and community initiatives. Jones has also served on the boards of organizations including the Apollo Theater, Susan G. Komen, and Bennett College.
In 2023, Princeton honored the couple by naming two residential halls after them , the first buildings in the university’s nearly 280-year history to be named after Black and Latino donors.
The ownership transfer must still receive approval from at least 22 of MLB’s 30 team owners during the league’s quarterly meeting in June. The agreement must also undergo Securities and Exchange Commission review and receive approval from the City of San Diego, which maintains an interest in Petco Park.
The Padres, currently the only major professional sports franchise in San Diego, have experienced record attendance growth over the past three seasons. Jones and Feliciano say their long-term vision centers on building a championship-caliber organization deeply connected to the community for generations to come.
Should the deal receive final approval, it would represent not only a historic shift in sports ownership but also another significant breakthrough for diversity and representation at the highest levels of professional sports leadership.
