Report: Earthquakes owner John Fisher to sell team
June 18 - The San Jose Earthquakes have been put on the market by owner John Fisher, according to a Sportico report on Tuesday night, with Fisher apparently hiring an investment bank to help facilitate the sale.
The Earthquakes, MLS and Moelis & Co., the investment bank, declined to comment. But Sportico reported the move was to be announced Wednesday.
Nearly four years ago, Fisher -- who is worth $3 billion, according to Forbes -- hired Moelis to explore selling minority shares in the Earthquakes. Now he plans to sell a controlling interest in the team, per Sportico.
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 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.
--Field Level Media
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