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12h ago

John Fisher Puts San Jose Earthquakes on the Market

Moelis & Co. is guiding the sale of a controlling stake in the $600 million MLS franchise to generate capital for Fisher’s share of the A’s $1.75 billion Las Vegas stadium

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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
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Overview

  • Fisher confirmed on June 18 that he has hired Moelis & Co. to oversee the sale of a controlling interest in the San Jose Earthquakes
  • Sportico ranked the franchise 20th in MLS valuations at $600 million following its privately funded PayPal Park development
  • Proceeds from the Earthquakes’ sale are expected to help fund Fisher’s $1 billion contribution toward the Athletics’ planned $1.75 billion Las Vegas ballpark
  • Fisher acquired the Earthquakes in 2007 for a $20 million expansion fee and also owns MLB’s Athletics, who moved from Oakland to temporary Sacramento facilities this season
  • PayPal Park, which hosts both the Earthquakes and NWSL’s Bay FC, has posted some of the league’s lowest attendance and revenue figures under Fisher’s ownership