John Fisher, the owner of the San-Jose Earthquakes, announced on Wednesday that he has initiated the process of selling the Major League Soccer (MLS) club.
Fisher, who also owns the Athletics baseball team, has hired the New York-based investment firm Moelis & Co. to oversee the sale.
“The San Jose Earthquakes and PayPal Park have been an important part of our lives for nearly two decades,” Fisher said in a statement released by the team. “We are proud of the role the Quakes have played in the growth of soccer throughout Silicon Valley. The Bay Area is a special place, and we’re deeply grateful to the fans, players and staff who’ve been with us on this journey.”
Fisher, along with Lew Wolff, acquired the Earthquakes as an expansion franchise in 2007 for a reported $20 million fee, bringing the team back to San Jose in 2008 following a two-year hiatus. The original team, a founding member of MLS in 1996 as the San Jose Clash, had previously relocated to Houston to become the Dynamo.
Under Fisher’s ownership, the club developed and opened the 18,000-seat PayPal Park, which the Earthquakes own and operate. The stadium is also home to the National Women’s Soccer League (NWSL) team, Bay FC.
MLS Commissioner Don Garber acknowledged Fisher’s contributions to the league and the local community.
“On behalf of Major League Soccer, I want to thank the Fisher family for their longstanding commitment to the Earthquakes and the San Jose community,” Garber said. “Under their leadership, the club invested in world-class facilities like PayPal Park, built a highly respected youth academy and helped grow the game in one of the nation’s most dynamic markets.”
The Earthquakes won MLS Cup titles in 2001 and 2003. They become the second active MLS franchise currently on the market, joining the Vancouver Whitecaps.
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