San Diego Business Journal

Jeff Moorad Steps Down as Padres’ CEO

Friday, March 23, 2012

Jeff Moorad is relinquishing his title as CEO of the San Diego Padres, but will remain the team’s vice chairman, the baseball club said March 22.

The Padres’ current president and chief operating officer, Tom Garfinkel, will assume CEO duties on an interim basis, the team said.

The Padres would not provide any comments beyond what appeared in the news release.

Moorad heads up an ownership group that is buying the team from Chairman John Moores in a five-year span, starting in 2009, for a reported $520 million.

In January, Moorad and his partners attempted to accelerate the purchase of the club and sought approval from Major League Baseball. Instead, he was told to provide more information about the deal.

This month, Moorad said he withdrew the request for a change of control, and asked that MLB approve a new broadcasting partner for the Padres in Fox Sports San Diego.

MLB has yet to approve that contract, which is speculated to be worth $25 million annually to the club.

A former players’ agent for most of his career, Moorad was once a top executive with the Arizona Diamondbacks, and has been involved with NASCAR, purchasing a racing team.

The Padres are set to open the regular season April 5 at Petco Park against the Los Angeles Dodgers.

— Mike Allen