San Jose Earthquakes' owner John Fisher looking to sell his part of soccer team

article

SAN JOSE, CA - SEPTEMBER 23: Earthquakes owner John Fisher during a game between San Jose Earthquakes and Nashville SC at PayPal Park on September 23, 2023 in San Jose, California. (Photo by Lyndsay Radnedge/ISI Photos/Getty Images)

SAN JOSE, Calif. - The San Jose Earthquakes may be up for sale.

KTVU has learned team owner John Fisher has hired investment bank Moelis & Co. to help him sell a controlling share of the club.

And in a news release from the team, the San Jose Earthquakes announced on Wednesday that Moelis & Co. will lead that effort.

What they're saying:

"When we woke up this morning we were hoping this wasn't the only franchise john fisher was planning on selling," said Dr. Shaun Fletcher, a marketing & sport communications expert at San Jose State Univ.

Fisher has served as the principal owner of the Earthquakes since 2008, when he and partner, Lew Wolff, and helped to bring the team back to Major League Soccer after a two-year hiatus.

The club has made five MLS Cup Playoff appearances and won the 2012 Supporters’ Shield during Fisher’s tenure.

"The San Jose Earthquakes and PayPal Park have been an important part of our lives for nearly two decades," Fisher said in a statement. "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."

Forbes recently valued the Major League Soccer team at over $540 million.

San Jose Mayor Matt Mahan Mayor Matt Mahan said on social media that this seems like "an exciting opportunity for the @SJEarthquakes & the city!"

"I look forward to welcoming the Quakes’ new ownership and working with them to one day bring the team into the future sports and entertainment district we’re planning in Downtown West," Mahan wrote on X. Added Jordan Trigg, owner of "Jack's," a San Jose hotspot for futbol/soccer fans, "Hopefully something will come in and bring some excitement back to the quakes and to San Jose."

What's next:

It's unclear if Fisher's move to sell the Quakes is related to his plan to move the Athletics to Las Vegas, and the rising costs of building a new stadium there.

The Earthquakes were a founding member of Major League Soccer in 1996, and the club has won two MLS Cup Championships and two Supporters’ Shields in its history. The team celebrated its 50th Anniversary in 2024.

Featured