Major League Baseball approves sale of San Diego Padres

Phil Mickelson watches a baseball game between the

Phil Mickelson watches a baseball game between the Oakland Athletics and Texas Rangers in Arlington, Texas. A group headed by former Los Angeles Dodgers owner Peter O'Malley and including Mickelson reached agreement Monday, Aug. 6, 2012, to buy the San Diego Padres from John Moores. (May 16, 2012) (Credit: AP)

DENVER -- A person familiar with the negotiations says Major League Baseball owners have approved the sale of the San Diego Padres to a group that includes the O'Malley family and pro golfer Phil Mickelson.

The person spoke to The Associated Press on Thursday on the condition of anonymity because Commissioner Bud Selig has yet to make an announcement. The owners were still in meetings.

Under the deal, the group will buy the franchise from John Moores for around $800 million.

The new ownership group includes Kevin and Brian O'Malley, the sons of former Los Angeles Dodgers owner Peter O'Malley. Ron Fowler, chief executive of Liquid Investments, is set to become controlling owner.

The agreement comes months after Jeff Moorad's attempt to buy the team on a layaway plan collapsed.

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