Kwanza Jones to make history as MLB’s first Black woman majority owner with $3.9B Padres deal

 by Dollita Okine, Face2FaceAfrica.com

Kwanza Jones has set her sights on dismantling the status quo as she prepares to become the first Black woman to hold a majority ownership stake in Major League Baseball since its establishment in 1903.

This historic shift comes as the family of the late San Diego Padres owner Peter Seidler announced an agreement to sell the franchise to an investor group spearheaded by Jones and her husband, José E. Feliciano, the co-founder of private equity firm Clearlake Capital.

Valued at $3.9 billion, this figure shatters the previous MLB record of $2.4 billion set by Steve Cohen’s 2020 purchase of the New York Mets. Feliciano is also breaking barriers with this deal as he is set to become the league’s second Latino majority owner and the first of Puerto Rican descent, joining Los Angeles Angels owner Arte Moreno.

“We have worked hard for everything we have achieved, and we have built it together,” Jones and Feliciano said in a joint statement, according to Essence. “We see that same spirit in this team and its fans, and we know what it takes to win.”

Jones and Feliciano added in their joint statement that their goal is to win the World Series and build a franchise that San Diego can be proud of for generations. 

Jones is no stranger to breaking barriers and achieving historic milestones. Her journey of excellence began during her undergraduate years at Princeton, where she excelled at the Apollo Theater’s legendary Amateur Night. 

This foundation of success was strengthened by her academic pursuits, which culminated in a law degree from the Cardozo School of Law and a master’s degree in dispute resolution from Pepperdine. She is a multifaceted leader who has successfully navigated both the creative and corporate worlds, releasing music under her own independent label and establishing a motivational media company.

She and Feliciano have donated more than $200 million to education and equity through their philanthropic works. Jones has served on the boards of the Apollo Theater, Susan G. Komen, and Bennett College, of which her mother, aunt, and other family members are alumnae. 

In 2023, Princeton honored the couple by naming two residence halls after them — the first time in its nearly 280-year history that residence halls have been named after Black and Latino donors.

The change of ownership will go through some processes, Essence reported. First, all 30 MLB clubs will take a definitive, formal vote at the league’s quarterly meeting this June. The deal needs at least 22 clubs to approve it to go forward.

After, the deal will be subject to a full review by the Securities and Exchange Commission and need approval by the City of San Diego, a stakeholder in Petco Park. The formal start of the Jones-Feliciano era is expected to be around this summer’s All-Star break, Essence said.

The Padres are San Diego’s only major professional sports team, and attendance has risen to record levels for the past three seasons. When the announcement came down this month, the team had a 19-12 record.