There’s been a power shift atop the San Diego Padres.
Baseball owners approved general partner Peter Seidler’s rise to take over the team. Ron Fowler will depart as executive chairman, according to MLB.com.
Seidler will serve as chairman. Fowler accepted the advisory role of vice chairman, while holding a minority ownership in the team.
Seidler, who MLB noted is the team’s lead investor, praised Fowler as “being instrumental” in contributing to the club’s progress.
“As an ownership group, we set out to right the ship and restore pride in the Padres, and I believe we have delivered on those goals,” Fowler told MLB.com.
Fowler is a principal and board member of both Beer Capitol Distributing in Milwaukee, and of Columbia Distributing in Oregon and Washington.
Seidler founded Seidler Equity Partners, a private equity fund that provides capital and management support to companies in the U.S. and Australia. SEP manages equity capital with a market value of approximately $3 billion.
– Staff reports