San Jose Earthquakes Owner John Fisher Initiates Sale of MLS Franchise

On Wednesday, John Fisher, owner of the San Jose Earthquakes, confirmed that he has initiated the sale process for the Major League Soccer franchise.

Fisher, who also owns the Oakland Athletics, partnered with Lew Wolff to acquire the Earthquakes in 2007 for a $20 million expansion fee. The team made its return in 2008 after a two-year absence from the league.

"The San Jose Earthquakes and PayPal Park have been an important part of our lives for nearly two decades," Fisher stated in a team-released announcement. "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."

To facilitate the sale, the Earthquakes have engaged Moelis & Co., a New York-based investment firm.

Founded as the San Jose Clash, the Earthquakes were one of the original teams in MLS when it launched in 1996. The franchise celebrated MLS Cup victories in 2001 and 2003.

In addition to their soccer operations, the Quakes manage PayPal Park, an 18,000-seat venue that also serves as the home for Bay FC, a team in the National Women's Soccer League.

MLS Commissioner Don Garber expressed gratitude towards the Fisher family, stating, "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. 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 join the Vancouver Whitecaps as the second MLS franchise currently available for purchase.