Ex-Modestan Jeff Moorad buying San Diego Padres

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Jeff Moorad, a graduate of Modesto Junior College and Downey High, has resigned as Arizona Diamondbacks chief executive officer and says he has reached an agreement in principle to buy the San Diego Padres.

Moorad said Friday he heads a "small but significant" group of investors with an exclusive right to complete the specifics of negotiations with Padres owner John Moores.

Moorad said he hopes the transaction can be completed in the next three months. Moorad said he has a long friendship with Moores and his wife, Becky, whose divorce precipitated the Padres' potential sale.

Modesto Bee - Jeffrey Moorad, who grew up in Modesto and attended Downey High School and Modesto Junior College, is in line to purchase the San Diego Padres.

San Diego Union-Tribune story on potential Moorad purchase

Moorad said he would be the majority owner if the deal goes through.

Moorad graduated from UCLA in 1978 before getting his law degree at Villanova. Moorad was a formidable agent who represented several major sports figures, including baseball's Manny Ramirez and Eric Karros, before he purchased a share of the Diamondbacks in 2004.