The group headed by former Los Angeles Dodgers owner Peter O’Malley had recently been granted exclusive negotiating rights to buy the San Diego Padres from John Moores. There’s not exactly a snag, but the negotiating window has been extended for at least 10 more days:
“The sale is advancing, but it’s nowhere close to being completed,” a source said. “Some details of the negotiations have slid backward. But overall, there continues to be progress toward an agreement in a very complicated transaction. Some of it is being renegotiated.”
The negotiations are complicated by Moores being out of the country on vacation.
Well, yes. I can see why negotiating with someone out of the country would be a problem. You’d think Moores, who is about to get a significant cut of $800 million, would want to get this done soon. Also:
Moores owns 50.68 percent of the Padres. The minority group put together by Jeff Moorad in 2009 to purchase the Padres owns 49.32 percent. When the sale is completed, some of the minority partners will be joining the O’Malley Group.
And here we were told there would be no math. Sooner or later, this’ll get done.
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