Source: Face2FaceAfrica

Kwanza Jones became the first Black woman to hold a majority ownership stake in a Major League Baseball (MLB) franchise last week when she and her husband, José E. Feliciano, got unanimous approval from MLB owners to acquire the San Diego Padres in a record-setting $3.9 billion transaction.

This historic shift came as the family of the late San Diego Padres owner Peter Seidler announced an agreement to sell the franchise to an investor group spearheaded by Jones and her husband, Feliciano, the co-founder of private equity firm Clearlake Capital.

Valued at $3.9 billion, this figure shatters the previous MLB record of $2.4 billion set by Steve Cohen’s 2020 purchase of the New York Mets. Feliciano is also breaking barriers with this deal, as he has also become the league’s second Latino majority owner and the first of Puerto Rican descent, joining Los Angeles Angels owner Arte Moreno.