Kwanza Jones ’93 and José Feliciano ’94 purchase the San Diego Padres for record $3.9 billion

Walking into their purchase of the San Diego Padres, one thing was certain for Kwanza Jones ’93 and José Feliciano ’94: Commitment was a requirement.

Jones and Feliciano’s partnership began at Princeton, where the two met as undergraduate students. They have stayed closely tied to the University since: Their $20 million gift in 2020 helped support Princeton’s recent undergraduate expansion and funded the first buildings on campus named after Black and Latino donors.

“Princeton is where our journey together started, so there is something pretty special about arriving at this moment together,” Feliciano and Jones wrote to The Daily Princetonian. “Hard work, grit and resilience have gotten us through a lot together, and we are bringing that same mindset to the Padres.”

The Padres are not the couple’s first venture into professional sports. In 2022, Clearlake Capital, the firm Feliciano co-founded, joined Los Angeles Dodgers co-owner Todd Boehly in a consortium that bought Premier League club Chelsea F.C. Earlier this month, Boehly and fellow co-owner Mark Walter sold their stakes to Clearlake, giving Clearlake Capital full ownership of the club.

“Whether it is Chelsea or any investment we make, there has to be passion,” Feliciano wrote to the ‘Prince.’ “One thing you learn pretty quickly in sports is that these are not like other businesses. Fans care deeply. The community cares. And whether you win or lose, it is always ‘we’ because you are in it together.”

After purchasing the Padres for an MLB record $3.9 billion, the couple will look to continue and build on a winning baseball culture in San Diego.

Increased success for their new team will in no way be easy for Jones and Feliciano. Competing in the National League West of MLB, the Padres will have an uphill battle, as they look to overtake the defending World Series champion Los Angeles Dodgers. Since last winning the division in 2006, the Padres have been forced to watch as their NL West rivals up Interstate 5 have won the division an eye-popping 15 times, including every year since 2013 other than 2021.

Despite their struggles relative to the juggernaut Dodgers, the Padres have been no slouches in their success on the diamond, having made the MLB playoffs each year since 2022 except 2023, with the team advancing as far as the National League Championship series in 2022. 

With President of Baseball Operations and General Manager of the Padres A.J. Preller at the helm, maintaining a competitive roster will almost certainly be the goal, as Preller has consistently shown his willingness to trade for elite talent even at the cost of trading away impressive and cost-controlled young minor leaguers.

“We have gotten to know Erik [Greupner], A.J., and the team throughout this process,” Jones and Feliciano wrote to the ‘Prince.’ “There is a lot of expertise already in the organization. We want to listen and learn, but we are also going to bring our own ideas and perspectives.” 

“We will challenge the conventional wisdom when appropriate, but we will let good people do their jobs. At the end of the day, we all want the same thing. We want to win.”

San Diego has also proven to be an impressive market for professional baseball, as Petco Park has consistently come int he top five in the Major Leagues for fan attendance since 2020’s shortened season due to COVID-19. This fan presence is a fact which the new owners of the Padres seem to appreciate.

“The Padres have some of the most passionate fans in baseball,” Jones explained in her message to the ‘Prince.’ “I want us to listen to the fans, connect with them and find ways to build on what is already here. There is so much energy and commitment around this team, and I think there is an opportunity to do even more.”

No stranger to running major institutions, Jones is founder of SUPERCHARGED, an organization that owns sub-corporations focusing their attention on philanthropy, self-motivation, and solution-building for the benefit of humanity. 

“I always say, ‘No one succeeds alone,’” Jones said when asked about the lessons she will bring from her company. “That is a big part of SUPERCHARGED and really a big part of how I approach everything.”

Nor are Jones and Feliciano ignorant of the financial commitment inherent to effectively operating a winning team. 

Despite the potential for an MLB lockout next season, as the Players Union faces up against the League and its many billionaire owners over the passage of the newest version of the CBA, or Collective Bargaining Agreement, Jones and Feliciano remain invested in developing a successful franchise. 

With one of the major issues in writing this CBA being the owners’ clear hope for instituting a hard salary cap — as is used in other American professional sports leagues such as the National Football League and National Basketball Association — the future of financial commitment for owners of MLB franchises could be at a turning point.

However, the new Padres owners remain focused on their team’s success. 

“We are committed to investing in the Padres,” the two wrote to the ‘Prince.’ “That means our time, our financial resources and a long term strategic vision.”

As the playoffs approach and the Padres gear up for the best-of-three Wild Card round, Jones and Feliciano will get their first opportunity to watch their team in the playoffs, an experience they will aim to repeat as often as possible for their new team. 

“We are competitive people,” the two Princeton alumni wrote. “We want to give this team what it needs to compete and win consistently.”

Kai Kim is an assistant Sports editor for the ‘Prince.’ He can be reached at kaikim[at]princeton.edu.

Ari Ahdieh is a reporter-in-training for the ‘Prince.’

Please send any corrections to corrections[at]dailyprincetonian.com.