Padres on Hold: No Sale . . . Yet

Although the sale of the Padres is imminent, attorney Jerry Kapstein said Monday night that the club has not been sold and no announcement is expected this week.

Jenny and Sid Craig, co-founders of the Jenny Craig Weight Loss Centers, reportedly will become part-owners of the franchise, but according to sources, the majority owner will be an out-of-town businessman.

“I have had many names presented to me the last several months by the media as possible buyers,” said Kapstein, who’s handling the sale negotiations for Padre owner Joan Kroc, “and I have not, and will not comment.

“All I can tell you is that the Padres have not been sold, and there is no agreement to sell the Padres.

“We’ve made progress, and the pace has intensified with very detailed discussions, but there is no agreement.”

The Craigs, who founded the corporation in 1982, have the sixth-fastest growing privately held company in America, according to Inc. magazine. The corporation produced revenues of $45 million in 1987, $87 million in 1988, and is expected to have sales reaching $120 million this year.

They have 120 locations, including eight in San Diego and 40 in Los Angeles. They hope to be at full strength in 1993, producing sales of $1.2 billion a year.