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Sheel Seidler, the widow of late San Diego Padres owner Peter Seidler, is suing his brothers for control of the $2 billion team. Peter Seidler was the chairman of the Padres until his death in Nov. 2023.
Peter Seidler, the founder of Seidler Equity Partners, a private equity firm, along with his uncle Peter O’Malley, and Ron Fowler purchased the San Diego Padres from John Moores for $800 million in 2012. Seidler would go on to purchase part of Fowler’s stake, making his the team’s largest shareholder.
In 2023, Seidler Equity Partners listed $3.5 billion in assets under management and today, Sportico gives the Padres a valuation of $2.03 billion.
When Peter Seidler died, his older brother, John Seidler, succeeded him as the team’s MLB team control person. Two of his other brothers, Bob and Matt Seidler, became trustees of Peter’s trust.
Now, Sheel Seidler is suing Bob and Matt Seidler, claiming they breached their fiduciary duties as trustees of the trust, which also controls the Padres.
In her lawsuit, she claims the brothers have “irreconcilable conflicts of interest,” have tried to sell trust assets to themselves at “far-below-market prices,” and “schemed to solidify their control of the Padres.” Sheel Seidler also claims that the brothers have been attempting to “falsely cast themselves as Peter’s true heirs” when it was her, followed by their children, that the late Padres owner wanted to be the team’s control person.
She also claims in the lawsuit that Bob Seidler’s wife has made “racist, profane and hateful communications directed at Sheel — a woman of Indian descent — in communications.” Sheel says the brothers are trying to keep control of the Padres from being passed to “an Indian-American woman” as they view the team “as their family business and ancestral right.”
Her lawsuit asks that Matt Seidler removed as a trustee, deny Matt and Bob any compensation from the Seidler Trusts, have a receivership take possession of the trust property, and that she receive actual and exemplary damages, attorneys fees and pre- and post-judgment interest.
Writing on social media, Sheel Seidler said about the lawsuit, “This was not a decision I made lightly. During the difficult period, I have done everything in my power to avoid unwanted distractions and resolve the matter privately. I have focused on supporting the work of the many dedicated professionals within the Padres organization, as well as the incredible players we have the privilege of watching nearly every day throughout the season. I made this decision as a very last resort, but I am confident it is the right one, and the best way to protect the Padres franchise and ensure the vision that Peter and I shared for the team will continue.”
To @Padres fans, I want you to hear directly from me. Peter and I had a mission to bring championship baseball to San Diego. That remains my commitment to you. Read my full statement below. pic.twitter.com/YW605jZ0P8
— Sheel Seidler (@sheel_padres) January 6, 2025
UPDATE: Statement from a spokesperson for the Peter Seidler trust.
“The complaint filed by Sheel Seidler, the widow of Peter Seidler, is entirely without merit. Peter had a clear estate plan. The plan specifically named three of his nine siblings, with whom he had worked closely for many decades, as successor trustees of his trust and Peter himself prohibited Sheel from ever serving as trustee. The trustee is exclusively responsible for designating the San Diego Padres’ next Control Person. In 2020 in connection with Peter’s appointment as Control Person, Sheel agreed in a sworn document that she had no right to be or to designate the Control Person and that she would not interfere with the designated Control Person. She also stated in May 2024 that John Seidler, Peter’s eldest brother, would be the best Control Person for the Padres. The Padres have already filed an application to Major League Baseball to appoint John.
“A lifelong baseball fan, seasoned business executive and current minority owner, John has the right experience and shares Peter’s vision for the Padres: ensure there is a consistently competitive team on the field and a best-in-class fan experience, with the goal of bringing championship caliber baseball to San Diego. Planning for the 2025 season is well underway, and we look forward to pursuing the franchise’s first World Series title.”