Padres Might Be Purchased on Monday, Source Says

It appears that baseball’s longest-running soap opera finally will have its own producer.

The Padres are expected to announce as early as Monday that the club will be sold for $75 million to television producer Tom Werner of Los Angeles and nine limited partners.

The sale almost was completed a week ago, but a glitch occurred, a source close to the investment group said Saturday. However, the source said a letter of intent might be signed Monday.

Padre owner Joan Kroc and chief executive Jerry Kapstein declined to comment, but a member of the group, who spoke only on the condition of anonymity, said that the deal is in its final stages.

Werner, 39, a partner in Carsey-Werner Co., which produces “The Cosby Show” and “Roseanne” among other TV shows, would be the managing general partner of the Padres if the sale is completed. Yet sources in the group said Werner will own less than 50% of the club.

The wealthiest of the group, sources said, is Ernest Rady of San Diego, chairman of the American Assets and Insurance Co. of the West. The others include: Scott Wolfe, a partner in the law firm of Latham & Watkins, which put the group together; Russell Goldsmith, chairman and chief executive officer of Republic Pictures and a director of City National Bank in Beverly Hills; Arthur Rivkin, former president of Coca-Cola Bottling of San Diego; Leon Parma, president and owner of Coast Distributing Co., who also is a major stockholder in the La Jolla Bank and Trust; Arthur Engel, president of Southwest Marine Inc.; Jackson W. Goodall, CEO and chairman of Foodmaker Inc; L. Robert Payne, president of Mission Valley Associates Inc and part-owner of the Doubletree Hotel; and Malin Burnham, chairman of First National Bank and John Burnham and Co.