Earthquakes' Fisher confirms plan to sell club

San Jose Earthquakes proprietor John Fisher confirmed connected Wednesday that helium is putting the MLS nine connected the market, and has hired concern slope Moelis & Co. to assistance facilitate the sale.

"On behalf of Major League Soccer, I privation to convey the Fisher household for their longstanding committedness to the Earthquakes and the San Jose community," MLS commissioner Don Garber said successful a connection connected Wednesday. "Under their leadership, the nine invested successful world-class facilities similar PayPal Park, built a highly respected younker academy and helped turn the crippled successful 1 of the nation's astir dynamic markets.

"We look guardant to identifying caller ownership that tin physique connected this beardown instauration and proceed to elevate shot successful the Bay Area, and passim Northern California."

Nearly 4 years ago, Fisher -- who is worthy $3 billion, according to Forbes -- hired Moelis to research selling number shares successful the Earthquakes.

Fisher, who besides owns the MLB's Athletics, paid a $20 cardinal enlargement interest successful 2007 for the Earthquakes. In January, Sportico ranked the franchise 20th successful its MLS squad valuations, astatine $600 million.

The Earthquakes play successful a soccer-specific stadium, PayPal Park, which is besides location to the NWSL's Bay FC. Last year's attendance was the third-lowest successful the league; and, contempt 1 of the league's lowest gross streams, the team's worth accrued owed to the demographics of the Bay Area and its postulation of billionaires.

"The San Jose Earthquakes and PayPal Park person been an important portion of our lives for astir 2 decades," Fisher said. "We are arrogant of the relation the Quakes person played successful the maturation of shot passim Silicon Valley. The Bay Area is simply a peculiar place, and we're profoundly grateful to the fans, players and unit who've been with america connected this journey."

The Earthquakes -- presently eighth successful the 15-team Western Conference aft finishing past successful 2024 -- aren't the lone MLS franchise connected the market. The Vancouver Whitecaps' bulk proprietor hired Goldman Sachs past December to assistance with the sale.

Fisher besides owns much than 95 percent of the MLB's Athletics, who are playing the archetypal of an expected 3 seasons astatine Sutter Health Park, the location of the Triple-A Sacramento River Cats, earlier their caller $1.75 cardinal stadium opens successful Las Vegas.

In an effort to rise much than $500 cardinal toward ballpark construction, Fisher hired Galatioto Sports Partners to merchantability LP stakes, portion Clark County successful Las Vegas is chipping successful $350 million.

Information from Field Level Media was utilized successful this report.