Former Los Angeles Dodgers owner Peter O'Malley is leading an investment group that's in the middle of negotiations with Padres owner John Moores. O'Malley's group was given an exclusive negotiating window, and according to Ken Rosenthal, they used it well:
Source: O'Malley group selected to buy #Padres. Price will be $800M, including $200M for portion of team's equity in Fox Sports San Diego.— Ken Rosenthal (@Ken_Rosenthal) July 7, 2012
The television rights are no small thing, as the Padres are one of the latest teams to swing a big television deal, which is one of the reasons why the sale price is reportedly twice the Forbes estimate from just a couple months ago.
The deal isn't official, as the San Diego Union-Tribune cautions:
Sources say #Padres majority owner John Moores still negotiating with O'Malleys, but no agreement expected until after All-Star break— U-T Padres (@sdutPadres) July 7, 2012
But, heck, throw a little caution to the wind and assume it's true. Rosenthal wouldn't make this stuff up. He's good!