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19h ago

John Fisher Puts San Jose Earthquakes on Market to Help Fund Athletics’ Las 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.

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Downtown San Jose, showing the core downtown district in the center and background, and the SAP Center and Diridon Station area, foreground. (Karl Mondon/Staff Archives)
May 6, 2023; Santa Clara, California, USA; San Jose Earthquakes and Oakland Athletics owner John Fisher looks towards the pitch after a match against the Los Angeles FC at Levi's Stadium. Mandatory Credit: Darren Yamashita-USA TODAY Sports/File Photo

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.