Monday, December 22, 2008
Tom Fudge : An era is coming to an end for San Diego's major league baseball team. Last week it became official that John Moores, who made his fortune in real estate and computer software, would sell the San Diego Padres.
The decision to sell the team was prompted by a difficult divorce that Moores, and his wife of many years, are going through. It seems that settling that financial struggle will require Moores and his wife to divest themselves of what may be their biggest asset, the team.
Moores has owned the Padres since 1994. He and former co-owner Larry Lucchino oversaw one pennant victory in 1998, and the construction of a new ballpark, called Petco. Moores was also involved in efforts to increase revenue sharing in baseball, so small market teams like the Padres would be more competitive.
- Andrew Zimbalist, professor of economics at Smith College. He has written extensively on the economics of major league sports.