Posted January 12, 2012 on
AP on Fox
Major League owners are putting off approval of sale of the San Diego Padres to Jeff Moorad.
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.
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MLB commissioner is 77 years old, but he may not be going anywhere. He reportedly has been offered a two-year extension.
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Yesterday, the Padres ownership was supposed to switch hands from John Moores to Jeff Moorad. Those plans hit a snag though during the owners' meeting at Paradise Vallex, AZ. The esitmated $530 million sale of the team was placed on hold due to many "economic issues" that Commissioner Bud Selig wanted more clarity on.
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