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John Fisher Puts San Jose Earthquakes on Market to Help Fund AthleticsLas Vegas Stadium

Moelis & Co. has been tasked with selling a controlling stake in the $600 million franchise, which owns PayPal Park along with NWSL’s Bay FC.

Overview

  • John Fisher, who has owned the Earthquakes since 2008, has retained investment bank Moelis & Co. to oversee the sale of a controlling interest in the MLS club.
  • The Earthquakes are valued at around $600 million and own PayPal Park, the 18,000-seat stadium that also hosts NWSL side Bay FC.
  • Proceeds from the sale are expected to support Fisher’s pledge of $1 billion toward the Athletics’ new $1.75 billion Las Vegas stadium, which is set to break ground next week.
  • MLS commissioner Don Garber thanked Fisher for his long-standing commitment and said the league anticipates new ownership that will build on the club’s strong foundation.
  • Despite recent signings and the hiring of Bruce Arena as head coach, San Jose ranked third-lowest in MLS attendance last season and currently sits eighth in the Western Conference.