John Fisher to sell San Jose Earthquakes

(KRON) — San Jose Earthquakes owner John Fisher is selling the MLS team, an Earthquakes spokesperson confirmed Wednesday.
 
Investment bank Moelis & Co. was hired by Fisher to facilitate selling off the team.
 
“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,” said MLS Commissioner Don Garber. “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.”

Fisher has owned the Earthquakes since 2008. He also owns the Athletics Major League Baseball  team, which moved out of Oakland last year with plans to play in Las Vegas. Fisher has a net worth of $3 billion, according to Forbes.
 
“The San Jose Earthquakes and PayPal Park have been an important part of our lives for nearly two decades,” Fisher stated in a press release issued by the team. “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.”

The Earthquakes were a founding member of Major League Soccer in 1996, and the club has won two MLS Cup Championships. The club also owns and operates PayPal Park stadium, which has a capacity of 18,000.

Garber said Wednesday, “We look forward to identifying new ownership that can build on this strong foundation and continue to elevate soccer in the Bay Area.”

San Jose Mayor Matt Mahan told KRON4, “This is an exciting opportunity for both the team and the city. I look forward to welcoming the Quakes’ new ownership and working with them.”