Peter Seidler, Big-Spending San Diego Padres Owner, Dies at 63
Peter Seidler, the San Diego Padres proprietor who spent lots of of thousands and thousands of {dollars} on the as-yet elusive purpose of bringing the town its first World Series title, died on Tuesday in San Diego. He was 63.
His demise was confirmed in a assertion on Tuesday from the Padres. A trigger was not disclosed.
Seidler, who had twice undergone therapy for non-Hodgkin’s lymphoma, mentioned in September that he wouldn’t attend video games for the rest of the season as he recovered from a medical process in August.
Seidler was not shy about his ambitions to win a World Series with the Padres, regardless of the fee. Under his management, the Padres spent large on gamers in hopes of successful a title.
“I kind of like spending money,” Seidler advised The San Diego Union-Tribune final yr. “You can’t take it with you.”
The Padres, which debuted in 1969, made historical past in 2019 when the workforce signed third-baseman Manny Machado to a 10-year contract price $300 million. At the time, the deal was the most important contract given to a free agent. The following season, in 2020, the Padres reached the postseason, ending a 14-year playoff drought. They received to the National League Championship Series in 2022.
Commissioner Rob Manfred mentioned in a assertion on Tuesday that Seidler “grew up in a baseball family.” Seidler was the grandson of Walter O’Malley, who shocked the baseball world within the late Fifties when he moved the Dodgers to Los Angeles from Brooklyn. Seidler was the nephew of Peter O’Malley, who took over the Dodgers after his father, and oversaw the workforce to World Series titles in 1981 and 1988.
Peter Seidler was born on Nov. 7, 1960, in Alhambra, Calif., to Terry Seidler and Roland Seidler Jr. He earned a bachelor’s diploma in commerce from the University of Virginia, the place he was a member of the Delta Upsilon Fraternity. Seidler additionally earned a Master of Business Administration from the University of California, Los Angeles.
After working within the lending arm of Bank of America, Seidler in 1992 co-founded Seidler Equity Partners, a personal fairness funding agency. He made a fortune together with his funding agency, which manages greater than $5 billion of belongings, in accordance with the Padres.
Seidler’s foray into sports activities started in 2012, when he fashioned an possession group to purchase the Padres from John Moores. The group included his uncle Peter O’Malley, who left the Dodgers within the late Nineties. Seidler later took over as chairman of the Padres, after Ron Fowler stepped down in 2020.
As chairman, Seidler pursued a extra aggressive spending strategy with the Padres, buying pitchers Yu Darvish, Blake Snell and Joe Musgrove forward of the 2021 season. The Padres reached the playoffs in 2022, advancing to the National League Championship Series, by which they misplaced the Philadelphia Phillies.
By the beginning of the 2023 season, the Padres had one of many largest payrolls in Major League Baseball, with some — together with the commissioner — questioning whether or not such spending was sustainable.
“I don’t spend too much time, if any, thinking about what other people are thinking,” Seidler mentioned in February. “We believe we have a great chance to go after that trophy and to deliver to San Diego its first parade — and with a great deal of seriousness and humility.”
Seidler advised The Union-Tribune in July that he deliberate for possession of the workforce to stay in his household after his demise.
Seidler is survived by his spouse, Sheel, three youngsters, 9 siblings and his mom, Terry Seidler.
Petco Park, residence of the Padres, opened on Tuesday afternoon to permit followers to pay their respects.
