Padres owner John Moores has finished a deal to sell the team to a group led by the O'Malley family that includes golfer Phil Mickleson.
The final sale price is reportedly $800 million, a team representative confirmed Monday. This means the final roadblock has been cleared and the other MLB owners are expected to approve the deal in a vote on August 16 at the Owners Meetings in Denver.
In June, the O'Malleys were chosen from a group of three different bidders hoping to purchase the team.
Peter O'Malley ran the Dodgers from 1979 to 1998, and his father Walter owned the club when it was still in Brooklyn in 1950.
Peter O'Malley will not be involved in day-to-day baseball operations. That job would fall to his son Kevin and his nephew Tom Seidler.
Mickelson's involvement appears to be quite substantial, the source saying the 4-time major championship winner is ready to invest in excess of $50 million in his home town team.
Check back for more details.
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