MLB Owners Approve John Seidler As Padres’ Control Person
John Seidler, the brother of late Padres chairman Peter Seidler, was unanimously approved as the team’s new control person in a vote among the league’s other 29 owners, Kevin Acee of the San Diego Union-Tribune reports. The move will become official once the paperwork naming John the trustee of Peter’s trust is finalized in about…
John Seidler, the brother of late Padres chairman Peter Seidler, was unanimously approved as the team’s new control person in a vote among the league’s other 29 owners, Kevin Acee of the San Diego Union-Tribune reports. The move will become official once the paperwork naming John the trustee of Peter’s trust is finalized in about a month’s time, Acee adds.
Padres ownership has been embroiled in a legal battle in recent months, as Peter’s widow, Sheel Seidler, has filed suit against her late husband’s brothers, alleging that they’ve breached fiduciary duty and committed fraud as successors of Peter’s trust. Sheel Seidler accused brothers-in-law Matt and Bob Seidler of selling assets to themselves “far” below market prices in an effort to consolidate control of the franchise and of violating Peter’s wishes that she serve as interim control person of the club before passing ownership onto the couple’s children at a later date.
Matt Seidler contested the suit in a formal response wherein he accused his sister-in-law of attempting to “manufacture claims against the Trustees in pursuit of the control that Peter intentionally chose not to give her.” Per Matt’s response, the trust has made numerous transactions, totaling tens of millions of dollars, benefiting Sheel and her children.
Sheel’s attorney suggested in a statement that the Seidler brothers have no evidence to support claims of wrongdoing by his client: “It’s ironic that they accuse Sheel — Peter’s wife of two decades and the mother of his three children — of misusing his assets, while at the same time they have reaped the benefits of Peter’s generosity for decades. The fact is, we will win in court because the defendants have shown they have no case.”
To date, Matt’s formal response to Sheel’s lawsuit is the only on-record comment provided by any of the brothers. John was not present for and has not issued comment on today’s vote. While John has now been approved by the league’s other owners, it remains possible that the forthcoming legal battle could yet impact the team’s ultimate ownership outlook. Any timeline on a resolution is impossible to predict. If the case is litigated in full and not settled outside of court, it could prove to be a yearslong process.