Peter Seidler

Peter Seidler
Born(1960-11-07)November 7, 1960
Alhambra, California, U.S.
DiedNovember 14, 2023(2023-11-14) (aged 63)
San Diego, California, U.S.
Education
Occupations
  • Founder and managing partner of Seidler Equity Partners
  • Chairman and owner of the San Diego Padres
SpouseSheel Seidler
Children3
Parents
Relatives

Peter Seidler (November 7, 1960 – November 14, 2023) was an American businessman. He was the chairman of the San Diego Padres of Major League Baseball (MLB).

Early life

Seidler was born in Alhambra, California, on November 7, 1960, to Roland Seidler Jr. and Terry O'Malley Seidler.[1][2] He was the grandson of Walter O'Malley, who had owned the Brooklyn Dodgers of Major League Baseball (MLB) and relocated them to the West Coast to become the Los Angeles Dodgers,[3] and nephew of Peter O'Malley who inherited the team, along with Seidler's mother.[2]

Seidler earned a bachelor's degree in finance from the University of Virginia and a Master of Business Administration from the University of California, Los Angeles.[2] While at Virginia, he joined the Delta Upsilon fraternity.[4]

Career

In 1992 Seidler founded Seidler Equity Partners, a private equity firm, in Marina del Rey, California, which he served as managing partner.[1][3] Among the companies in which the partnership has invested is LA Fitness[5] and music publishing company Hal Leonard, acquiring a majority ownership in June 2016.[6] In 2018, the firm partnered with MLB to purchase Rawlings for $395 million.[7] The firm had an estimated $1.8 billion in assets under management in 2020[8] and $3.5 billion in 2023.[9]

San Diego Padres

In 2012, Seidler, his uncle Peter O'Malley, and Ron Fowler formed the O'Malley Group, which purchased MLB's San Diego Padres from John Moores for $800 million.[10] The team increased spending in an attempt to contend for a championship, acquiring Matt Kemp, Justin Upton, and James Shields.[5] On November 18, 2020, MLB approved the transfer of the role of chairman from Fowler to Seidler, who purchased part of Fowler's stake in the team to become the largest stakeholder.[3]

Seidler increased the Padres' payroll to $214 million for the 2022 season, which was the sixth-highest in MLB. The Padres reached the 2022 National League (NL) Championship Series.[11] Payroll was increased to $237 million for the 2023 MLB season, the third-highest in MLB. He authorized the acquisitions and contract extensions to star players, including Xander Bogaerts, Yu Darvish, Manny Machado, Fernando Tatís Jr., Juan Soto, Josh Hader, and Joe Musgrove.[12] The team went 82–80 and finished third in the NL West.[13]

Personal life and death

Padres fans observe a "celebration of life ceremony" in honor of Seidler at Petco Park before an exhibition game in March 2024.

Seidler and his wife, Sheel, had three children.[14] They lived in La Jolla, California.[15]

Seidler had type 1 diabetes. He also survived two bouts with non-Hodgkin lymphoma.[14]

In September 2023, Seidler announced that he had undergone a medical procedure which would prevent him from attending any further games in the 2023 season.[16] He died in San Diego on November 14, 2023, at age 63.[17][18]

See also

References

  1. ^ a b Lin, Dennis (November 14, 2023). "Padres owner Peter Seidler dies at 63: A look at his legacy both on and off the field". The Athletic. Retrieved November 14, 2023.
  2. ^ a b c Jiménez, Jesus (November 14, 2023). "Peter Seidler, Big-Spending San Diego Padres Owner, Dies at 63". The New York Times. Retrieved November 14, 2023.
  3. ^ a b c "Padres chairman Ron Fowler steps down; Peter Seidler to take over". San Diego Union-Tribune. November 18, 2020. Retrieved November 14, 2023.
  4. ^ Showley, Roger. "San Diego's pitchmen for pro soccer". dailypress.com.
  5. ^ a b Acee, Kevin (April 3, 2015). "Seidler is quiet, quite excited owner". San Diego Union-Tribune. Retrieved November 15, 2023.
  6. ^ Dill, Molly (June 29, 2016). "Majority of Hal Leonard shares sold to private equity firm". BizTimes.
  7. ^ "Major League Baseball buys stake in Rawlings, seeking 'input and direction' on production of baseballs".
  8. ^ Louch, William (March 26, 2020). "Seidler Equity Raises $800 Million for New Private-Equity Deals". Wall Street Journal – via www.wsj.com.
  9. ^ Ewen, Beth (February 7, 2023). "Seidler Equity Buys Unleashed Brands Amid Lawsuits Aimed at Kid-Focused Franchisor". franchisetimes.com.
  10. ^ "Padres sold to group headed by O'Malley heirs". San Diego Union-Tribune. August 7, 2012.
  11. ^ Acee, Kevin (October 26, 2022). "Seidler, Padres feel obligation to maintain commitment to winning". San Diego Union-Tribune. Retrieved November 14, 2023.
  12. ^ Acee, Kevin (March 24, 2023). "Stacked with superstars, the Padres have a team built to win like no other before it". San Diego Union-Tribune. Retrieved November 14, 2023.
  13. ^ 2023 San Diego Padres Statistics baseball-ref.com
  14. ^ a b "Column: Padres optimist Peter Seidler balances his health with uncertainty of the times". The San Diego Union-Tribune. March 24, 2020. Retrieved October 20, 2024.
  15. ^ Flynn, Gillian (June 1, 2020). "Sheel and Peter Seidler". Ranch & Coast Magazine. Retrieved October 20, 2024.
  16. ^ "Seidler, Padres chairman and owner, dies at 63". ESPN.com. November 14, 2023. Retrieved October 20, 2024.
  17. ^ Friarwire (November 14, 2023). "Padres Chairman & Owner Peter Seidler Passes Away". Medium. Retrieved November 14, 2023.
  18. ^ Acee, Kevin (November 14, 2023). "Padres Chairman Peter Seidler passes away". The San Diego Union-Tribune. Archived from the original on November 14, 2023. Retrieved November 14, 2023.