The family of the late Peter Seidler is exploring a potential sale of the San Diego Padres , the team announced Thursday.

In a statement, Padres chairman John Seidler, the franchise's control person and Peter's older brother, wrote the team will "undertake this process with integrity and professionalism in a way that honors Peter's legacy and love for the Padres and lays the foundation for the franchise's long-term success."

Peter Seidler was part of the group that purchased the Padres in 2012, became the franchise's largest stakeholder in 2020 and invested in the team in unprecedented fashion, outfitting the roster with star players on long-term contracts and running the payroll higher than $250 million in 2023, all with the goal of delivering the first championship to San Diego.

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