San Jose Earthquakes owner John Fisher announces plan to sell team
SAN JOSE, Calif. (KGO) -- San Jose Earthquakes owner John Fisher confirmed on Wednesday that he is selling the team and has hired an investment bank to lead the effort.
"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," MLS commissioner Don Garber said in a statement. "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. We look forward to identifying new ownership that can build on this strong foundation and continue to elevate soccer in the Bay Area, and throughout Northern California."
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Fisher also owns the Athletics, which moved from Oakland last year. He's currently trying to move the A's to Las Vegas, where stadium plans are still up in the air because of cost concerns.
Some money from the sale of the Earthquakes could go toward paying for that stadium.
"The San Jose Earthquakes and PayPal Park have been an important part of our lives for nearly two decades," Fisher said. "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."
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The Earthquakes are valued at $540 million, and Fisher paid about $20 million for the team in 2007. Fisher himself is worth $3 billion and the Earthquakes also own and manage PayPal Park.
Passionate and angry A's fans called for Fisher to sell the baseball team last year before they left Oakland, but it never happened.
