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Padres CEO Steps Down

Padres CEO Steps Down
A major shakeup in the Padres front office...just two weeks before the start of the season. The man, who is in the process of purchasing the Padres from John Moores, has stepped down as CEO. Jeff Moorad will remain as a vice president in the organization overseeing the development of the Padres new television contract with Fox Sports. Acting COO, Tom Garfinkel, will assume Moorad's job on an interim basis.
 
The Padres did not a give a reason for the change.
 
The sale of the Padres from Moores to an ownership group headed by Moorad was spread out over five years with the last payment due in 2014. When Moores and Moorad requested the sale be finalized earlier this year, Major League Baseball denied the request saying Moorad had not provided certain financial information.Then, earlier this month, Moorad withdrew his application with MLB to purchase the team...saying he wanted to focus all of his efforts at this time on the new television contract.
 
There has been much speculation about Moorad's financial status and whether he has enough funds to complete the purchase of the team. There's also rumors that several owners are opposed to Moorad gaining ownership of a major league baseball team.
 

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