San Jose Earthquakes owner John Fisher confirmed on Wednesday that he is putting the MLS club on the market, and has hired investment bank Moelis & Co. to help facilitate the sale.
“On behalf of Major League Soccer, I want to thank the Fisher family for their longstanding commitment to the Earthquakes and the San Jose community,” MLS commissioner Don Garber said in a statement on Wednesday. “Under their leadership, the club invested in world-class facilities like PayPal Park, built a highly respected youth academy and helped grow the game in one of the nation’s most dynamic markets.
“We look forward to identifying new ownership that can build on this strong foundation and continue to elevate soccer in the Bay Area, and throughout Northern California.”
Nearly four years ago, Fisher — who is worth $3 billion, according to Forbes — hired Moelis to explore selling minority shares in the Earthquakes.
Fisher, who also owns the MLB’s Athletics, paid a $20 million expansion fee in 2007 for the Earthquakes. In January, Sportico ranked the franchise 20th in its MLS team valuations, at $600 million.
The Earthquakes play in a soccer-specific stadium, PayPal Park, which is also home to the NWSL’s Bay FC. Last year’s attendance was the third-lowest in the league; and, despite one of the league’s lowest revenue streams, the team’s value increased due to the demographics of the Bay Area and its collection of billionaires.
“The San Jose Earthquakes and PayPal Park have been an important part of our lives for nearly two decades,” Fisher said. “We are proud of the role the Quakes have played in the growth of soccer throughout Silicon Valley. The Bay Area is a special place, and we’re deeply grateful to the fans, players and staff who’ve been with us on this journey.”
The Earthquakes — currently eighth in the 15-team Western Conference after finishing last in 2024 — aren’t the only MLS franchise on the market. The Vancouver Whitecaps’ majority owner hired Goldman Sachs last December to assist with the sale.
Fisher also owns more than 95 percent of the MLB’s Athletics, who are playing the first of an expected three seasons at Sutter Health Park, the home of the Triple-A Sacramento River Cats, before their new $1.75 billion stadium opens in Las Vegas.
In an effort to raise more than $500 million toward ballpark construction, Fisher hired Galatioto Sports Partners to sell LP stakes, while Clark County in Las Vegas is chipping in $350 million.
Information from Field Level Media was used in this report.
