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Jeff Moorad has resigned as chief executive officer of the Arizona Diamondbacks and says he has an agreement in principle to buy the San Diego Padres, according to the Associated Press. Moorad was a former players' agent; other Major League Baseball owners have therefore been wary of him. Nonetheless, he became chief executive of the Diamondbacks and did a good job helping to rebuild the franchise. He was required to resign that post to have exclusive rights to complete negotiations with the Padres. John Moores, Padres majority owner, confirmed that Moorad has exclusive negotiating rights. Moores owns a reported 90 percent of the team. He is divorcing his wife, Becky, who owns half of that 90 percent. She, John Moores and Wall Street's Goldman Sachs are working with Moorad to work out the sale.
Jeff Moorad has resigned as chief executive officer of the Arizona Diamondbacks and says he has an agreement in principle to buy the San Diego Padres, according to the Associated Press. Moorad was a former players' agent; other Major League Baseball owners have therefore been wary of him. Nonetheless, he became chief executive of the Diamondbacks and did a good job helping to rebuild the franchise. He was required to resign that post to have exclusive rights to complete negotiations with the Padres. John Moores, Padres majority owner, confirmed that Moorad has exclusive negotiating rights. Moores owns a reported 90 percent of the team. He is divorcing his wife, Becky, who owns half of that 90 percent. She, John Moores and Wall Street's Goldman Sachs are working with Moorad to work out the sale.