Commissioner Bud Selig says the MLB ownership committee and executive council unanimously decided to defer action, in his words, "to get more clarity and technical information."
Moorad says he and Selig tried to work out an "11th-hour" agreement to get the matter presented to the full meeting of the 30 owners on Thursday but were unable to do so. He says he respects the process and will work quickly to resolve the issues.
Moorad was a prominent sports agent before becoming a minority owner first with the Arizona Diamondbacks, then with the Padres. His group owns 49 percent of the Padres and is set to buy the remainder from majority owners John Moores.