John Moores hires bankers to sell Padres
Tuesday, April 10, 2012
SAN DIEGO (AP) -- John Moores is putting the San Diego Padres up for sale.
The team's owner said Tuesday he has retained a pair of investment bankers to seek a new owner for the franchise.
Moores' proposed sale of the team to former agent Jeff Moorad collapsed last month after baseball owners' refused to approve to proposed transfer of controlling owner. Moorad headed a group that in March 2009 agreed to a gradual takeover of the Padres.
Moores says, "Three years ago, I made the difficult decision to sell the club, and I didn't expect to have to make that same decision again."
Steve Greenberg of Allen & Co. and John Moag of Moag & Co. were hired to advise on the sale.