Padres Price Tag Scares Off Bidders - NBC 7 San Diego

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Padres Price Tag Scares Off Bidders

John Moores is reportedly asking a pretty hefty price



    Padres Price Tag Scares Off Bidders

    During the MLB players' strike in 1994, John Moores bought the Padres for about $70 million.

    A few years ago, he had a deal in place to sell it to a group led by Jeff Moorad for about $500 million.

    In 2012, Moores thinks he can get an even bigger return on his investment.

    Moores has reportedly set the asking price at $800 million, and that's just to get a chance to make a final bid. The lofty price tag for a last place team with no marketable superstar is making formerly interested parties turn away.

    In the last couple of days, movie producer Thomas Tull and hedge fund millionaire Steve Cohen have abandoned their quests to buy the Padres.

    Moores has said he expects at least 5 groups to be approved by MLB to make an offer, but it appears unlikely that many are willing to make the $800 million qualifying bid.

    The most notable group still showing interest is the group led by the O'Malley family. The former owners of the Dodgers have added San Diegan Phil Mickelson to the mix.

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