Back in 2021, Peter Seidler led a group that bought the San Diego Padres. He transformed the team into a powerhouse valued at over $2 billion. But with his untimely passing in 2023, the Padres now find themselves grappling with a high-stakes game of succession.
Sheel Seidler, Peter’s wife, is suing two of his brothers for violating their fiduciary responsibilities. And she wants to be the sole control person for the Padres.
As lawsuits start to fly and dynamics play out in public, the Padres’ situation is an important reminder: Ownership planning isn’t just about covering your bases. It’s about protecting your legacy when the unexpected happens.
Internal dynamics, as we’re seeing with the Padres, can threaten your family business’s stability. A lack of clear leadership, emotional tensions, and conflicting interests can quickly escalate into disputes. Only an effective ownership succession plan can help you avoid this.
While no plan will completely eliminate the risk of shareholder disputes, a well-crafted strategy provides a layer of protection for both your family legacy and long-term financial success. To take the first step toward creating an effective ownership succession plan, read “For the Love of the Game?”
Read about creating an effective ownership succession plan here.
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