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Peter Seidler, San Diego Padres Owner Who Invested Heavily in the Team, Passes Away at 63

Peter Seidler, the San Diego Padres proprietor who spent a whole bunch of hundreds of thousands of {dollars} on the as-yet elusive objective of bringing town its first World Sequence title, died on Tuesday in San Diego. He was 63.

His dying was confirmed in a statement on Tuesday from the Padres. A trigger was not disclosed.

Seidler, who had twice undergone remedy for non-Hodgkin’s lymphoma, said 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 Sequence with the Padres, regardless of the price. Underneath his management, the Padres spent large on gamers in hopes of successful a title.

“I form of like spending cash,” Seidler instructed The San Diego Union-Tribune final 12 months. “You may’t take it with you.”

The Padres, which debuted in 1969, made historical past in 2019 when the group signed third-baseman Manny Machado to a 10-year contract price $300 million. On the time, the deal was the biggest contract given to a free agent. The next season, in 2020, the Padres reached the postseason, ending a 14-year playoff drought. They obtained to the Nationwide Championship Sequence in 2022.

Commissioner Rob Manfred stated in a statement on Tuesday that Seidler “grew up in a baseball household.” Seidler was the grandson of Walter O’Malley, who surprised 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 group to World Sequence 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 College of Virginia, the place he was a member of the Delta Upsilon Fraternity. Seidler additionally earned a Grasp of Enterprise Administration from the College of California, Los Angeles.

After working within the lending arm of Financial institution of America, Seidler in 1992 co-founded Seidler Fairness Companions, a personal fairness funding agency. He made a fortune together with his funding agency, which manages greater than $5 billion of property, based on the Padres.

Seidler’s foray into sports activities started in 2012, when he shaped 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 method 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, wherein they misplaced the Philadelphia Phillies.

By the beginning of the 2023 season, the Padres had one of many largest payrolls in Main League Baseball, with some — together with the commissioner — questioning whether or not such spending was sustainable.

“I don’t spend an excessive amount of time, if any, enthusiastic about what different persons are considering,” Seidler said in February. “We consider now we have an ideal probability to go after that trophy and to ship to San Diego its first parade — and with an excessive amount of seriousness and humility.”

Seidler instructed The Union-Tribune in July that the he deliberate for possession of the group to stay in his household after his dying.

Seidler is survived by his spouse, Sheel, three kids, 9 siblings and his mom, Terry Seidler.

Petco Park, dwelling of the Padres, opened on Tuesday afternoon to permit followers to pay their respects.

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