Puerto Rican businessman, artist become first Latino owners of MLB team

José E. Feliciano and Kwanza Jones have become the first Latino owners of a Major League Baseball team after purchasing the San Diego Padres for $3.9 billion, according to KVIA.

Feliciano, born in Bayamón, Puerto Rico, built his business career through education at Princeton and Stanford universities before joining the investment firm Goldman Sachs. He founded Clearlake Capital in 2006, an investment fund that manages approximately $90 billion in assets according to Forbes. In 2022, the fund partnered with Todd Boehly to purchase Chelsea FC of the English Premier League.

Jones is an artist and Feliciano's wife and business partner in the Padres purchase.

While Mexican-born businessman Arturo Moreno purchased the Los Angeles Angels in previous years, Moreno was born in Tucson, Arizona, making Feliciano and Jones the first Latino owners with that heritage acquired in their home country, according to the reporting.

"In my experience as an owner of other sports franchises, I know the importance of results," Feliciano said at his introduction as Padres owner. "I come to win, but, like everything, it is a process that we hope to move forward with."

The Padres have never won a World Series in 57 years of Major League history. The team reached the championship twice, most recently in 1998, but fell short both times. This season, the team is competing for a playoff position, potentially allowing the new owners to experience postseason play quickly.

Feliciano is also a co-founder of the Smithsonian's National Museum of the American Latino.