The sale of San Diego Padres has been completed.
A group led by longtime San Diego businessman Ron Fowler agreed to purchase the club from John Moores for $800 million earlier this month. Major League Baseball gave its approval two weeks ago.
Fowler will be the controlling owner with partners that include family members of former Dodgers owner Peter O'Malley, including sons Kevin and Brian and nephews Peter and Tom Seidler.
Tom Garfinkel has been named the club's president and chief executive officer, while Josh Byrnes will remain as the team's general manager.
"We are thankful to have completed the sale process and to now be able to turn our attention to the future," said Fowler in a statement Wednesday. "We plan to create an organization and a team that San Diego fans can be proud to support, developing upon the foundation Tom Garfinkel, Josh Byrnes and others have built."
The ownership group is comprised of a number of additional members, including Rick Barry, Glenn Doshay, Alexis Fowler, Patrick Graham, Alfredo Harp Helu, Harvey Jabara, Lee Ross and Wayne Seltzer.
Earlier reports of the sale indicated that pro golfer Phil Mickelson, a San Diego native, was also part of the new ownership group.
Moores had owned the Padres since the end of the 1994 season.
The Padres reached the playoffs four times and went to the 1998 World Series during Moores' ownership tenure, but haven't been to the postseason since 2006. The club also moved into Petco Park in 2004.