The San Diego Padres are reportedly being sold to a group that includes golfer Phil Mickelson, long-time San Diego business and civic leader Ron Fowler and the nephews and children of former Dodgers owner Peter O'Malley.
The San Diego Union-Tribune reported the O'Malley group purchased the team from John Moores, who has been the majority owner of the team since 1995. The price tag is reportedly $800 million.
The deal, according to the newspaper, was finalized Monday night, but is pending approval by other Major League Baseball owners. The approval could come as soon as Aug. 16, during an ownership meeting in Denver.
According to the Union-Tribune, Tom Garfinkel will stay on as the CEO of the Padres and Josh Byrnes will continue his role as general manager.
The Padres are 47-64 this season, which is 13 games behind first-place San Francisco in the NL West. They haven't made the playoffs since 2006.