In August, the Padres, along with the Dodgers, Red Sox, Braves, and Giants, signed a partnership deal with Kalshi. A week before that, the Padres were sold to Jose Feliciano and Kwanza Jones. And now the Padres’ new owners have spoken about the deal and its future.
“It is controversial. That predates us. So we were not responsible one way or the other. I say there are lots of things we’ve inherited,” said Padres owner Jose Feliciano in an interview with Sportico.
The San Diego Padres’ new owner has not ruled out an inherited partnership. At a Sportico event on November 10, José E. Feliciano addressed the club’s agreement with prediction market platform Kalshi. The deal was announced in 25th August, roughly a week after MLB approved the $3.9 billion sale.
The agreement places the Padres among five MLB teams partnered with Kalshi, alongside the Dodgers, Red Sox, Braves, and Giants. The partnerships include stadium signage, social media promotions, radio spots, and fan activations. The Athletic reported deals across the group could be worth as much as eight figures annually, although the Padres’ individual payment remains undisclosed. Kalshi operates as a federally regulated exchange where users trade contracts tied to future events, including sports outcomes. Court documents cited by local reporting indicate sports accounted for over 90% of Kalshi trades and 95% of its revenue in 2025.
That business model has drawn criticism because California does not permit traditional sports betting. Kalshi argues its event contracts fall under federal oversight, but several states have challenged its sports markets. Critics also raise concerns about addiction, player harassment, and competitive integrity. Markets built around game outcomes raise questions about whether people with inside information could influence trades. Those concerns are especially sensitive in baseball, which has spent generations protecting its credibility after gambling scandals.
A San Diego Union-Tribune panel of economists split four to three in favor, while business executives opposed it five to two. Across both groups, the tally was six supporters and eight opponents, including one economist who backed the deal for owners but not fans. Supporters pointed to sponsorship revenue and the Padres’ need for resources to compete. Opponents warned gambling-related sponsorships could alienate fans, normalize risky behavior, and damage trust. Some also questioned whether clubhouse personnel, trainers, or agents could exploit information unavailable to ordinary traders.
The financial context makes the decision difficult to ignore, even if the partnership was inherited. The Padres generated $530 million in revenue and $20 million in EBITDA in 2025, while drawing 3.4 million fans. That attendance ranked second in MLB, a sign of the club’s strong local support. The new ownership paid a record $3.9 billion for the franchise, and its commercial decisions will shape its public image.
He added that the organization wants to “keep it positive in San Diego” and said, “They’re a good partner right now.”
That leaves the door open on the partnership’s future. Feliciano has not said the Padres will end the Kalshi deal, but his careful wording leaves its future under review.
New Padres Ownership Faces Crucial Offseason Decisions as MLB Lockout Looms
The San Diego Padres enter a defining offseason as the December 1 CBA deadline approaches. MLB’s current agreement expires that day, and owners are expected to lock out players without a deal. A lockout would pause major-league business, including talks with players on 40-man rosters. Five years ago, teams moved quickly before the previous deadline, signing stars like Corey Seager and Max Scherzer. San Diego faces similar pressure, with roster gaps and little time to waste.
That urgency makes this week’s General Managers’ Meetings important for A.J. Preller and the Padres. The meetings run November 10-12 in Las Vegas, bringing executives and agents. Deals are not guaranteed, as teams usually begin conversations and lay groundwork for later moves. Still, the looming lockout could push clubs to discuss contracts and trades earlier. Preller can meet agents, assess asking prices, and learn which reunions remain realistic.
The biggest task is rebuilding a rotation with very few certain pieces. Randy Vasquez is the only surefire returning starter, while Joe Musgrove’s role remains uncertain after Tommy John surgery. Yu Darvish’s future is also unclear, leaving the Padres short on dependable options. Michael King opted out after posting a 3.21 ERA across 32 starts in 2026. Nick Pivetta, Walker Buehler, Robbie Ray, Casey Mize and Lucas Giolito are also free agents.
The Padres likely need at least 3 starters, alongside bullpen help and first-base help. King could be a valuable reunion, while Adrian Morejon and Ty France are possible returnees. Morejon received a qualifying offer, meaning another team signing him would face draft-pick compensation. France was not given one, leaving fewer barriers if the Padres want him back. These decisions will show how Preller balances familiar players against wider upgrades.
That challenge carries added weight under new owners Kwanza Jones and José E. Feliciano.
They promised, “We are all in; it’s not lip service,” while Feliciano said, “We need to win the World Series.”
Their words raised expectations among fans waiting for the franchise’s first championship. The GM Meetings offer an early look at whether those ambitions will shape spending and roster moves. This first offseason under new ownership could set the direction for the franchise’s next era.