Chelsea owner on verge of stunning £3bn deal as Clearlake Capital co-founder splashes the cash

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Clearlake Capital co-founder Jose E. Feliciano and his wife, Kwanza Jones - who also own Chelsea - are set to spend big on a completely different sporting franchise in a mammoth deal

Clearlake Capital co-founder Jose E. Feliciano is set to buy out the San Diego Padres for a staggering £3million, as the Chelsea owner expands his impressive sporting portfolio.

Speaking at the Sports Business Journal's CAA World Congress of Sports, the firm's co-founder in Behdad Eghbali spoke on reports linking his business partner to the Padres.

He explained: "We have and I think we will continue to be investors. I've read some of the same headlines that Jose is one of the bidders in the Padres process, but we'll leave that to the process."

Feliciano and Eghbali are known by Chelsea fans for their ownership stake in the Premier League club. However, Feliciano's process in bidding on the Padres shows that Clearlake are interested in expanding their sporting portfolio.

Speaking about the evolving landscape, Eghbali added: "Sports is a category where we think there's a lot of growth.

"It's a category where live events - sports - we think will be a mainstay investment category for investors in the decades to come."

The Padres are thought to be currently looking at a transition in ownership following the death of Peter Seidler in 2023. Seidler owned the franchise from 2012 onward, and the franchise remains under the stewardship of his family following his passing.

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