India, April 18 -- The San Diego Padres are nearing a sale to a group led by billionaire investor Jose E. Feliciano and his wife Kwanza Jones in a deal valued at approximately $3.9 billion, according to reports cited by The Guardian. If completed, the transaction would mark the highest price ever paid for a Major League Baseball franchise, surpassing the $2.42 billion paid by Steve Cohen for the New York Mets in 2020.

The deal still requires approval from at least 75% of MLB's 30 owners.

Feliciano, co-founder of private equity firm Clearlake Capital, has an estimated net worth of $3.9 billion, according to Forbes. His firm holds a controlling stake in Chelsea FC as part of a consortium that includes Todd Boehly and Mark Walter.

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