Originally posted on Pro Sports Daily  |  Last updated 8/17/12

The sale of the San Diego Padres was officially approved Thursday morning during Major League Baseball's quarterly owners meetings in Denver.

The sale was the first order of business and was quickly approved. Ten minutes into the meeting, John Moores, who had owned the Padres since 1994, departed and the new group, led by four heirs of the O'Malley baseball dynasty and San Diego businessman Ron Fowler, entered the meeting to applause.

"It's the second step," Fowler said.

The purchase from Moores and a minority group, put together by Jeff Moorad in 2009 in an ill-fated effort to purchase the team, is set to close on Aug. 31.

In addition to Fowler, the key figures in the group that MLB identified as the "Seidler/O'Malley families and Ron Fowler" are four heirs to the O'Malley family that owned the Dodgers for five decades. Kevin and Brian O'Malley are the sons of former Dodgers owner Peter O'Malley and grandsons of Walter O'Malley, the owner who brought the Dodgers west from Brooklyn after the 1957 season. Peter and Tom Seidler are the nephews of Peter O'Malley.

Fowler, the CEO of Liquid Investments, has been designated the "control person" of the new ownership group and Thursday was identified by Peter Seidler as the group's executive chairman.

The ownership percentages were not detailed Thursday. More details about the structure of the new ownership group and what its plans are will be made after the purchase closes. The group's bid to purchase the Padres originated with the O'Malleys and Seidlers last spring after they failed in an attempt to purchase the Los Angeles Dodgers.

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