John Fisher is trying to sell his team — the San Jose Earthquakes
The San Jose Earthquakes could soon be up for sale by John Fisher a league source proven to the Bay Area News Group Tuesday evening Fisher has hired financing bank Moelis Co to help him sell a controlling share of the Major League Soccer club An announcement could come as soon as Wednesday Sportico s Kurt Badenhausen was first to publish the news Tuesday night Fisher also owns the former Oakland Athletics whom he moved out of the East Bay and to a Triple-A ballpark in Sacramento last offseason after failed negotiations to build a new stadium in Oakland He plans to relocate the A s to a new park in Las Vegas where a groundbreaking on the site is planned for next week more than a year after the group broadcasted its relocation The cost of the park is estimated at billion park and Fisher s announcement noted that his family will contribute billion to its completion Sportico valued the club at million in January th in MLS Forbes valued the Quakes at million nd in the -team league Fisher and Lew Wolff paid a million expansion fee when they were awarded the club in a year after the previous iteration of the Earthquakes relocated to Houston and became the Dynamo Related Articles Judd s shorthanded goal lifts SJ Quakes to draw in Portland MLS Earthquakes fall - in St Louis after a penalty kick in stoppage time Quakes extend unbeaten streak to continue defending champion Galaxy s historically bad start SJ Earthquakes rally to take lead but Houston scores in stoppage time for - tie Earthquakes outlast Timbers with late goal to reach U S Open Cup quarterfinals The Earthquakes own PayPal Park their home stadium where Bay FC also plays home games in the NWSL The stadium was privately funded and opened in The Quakes had been near the bottom of the league in payroll in modern years but underwent a substantial makeover last offseason They signed former MLS champion and U S men s coach Bruce Arena as manager and technical director then brought in a pair of star strikers in Josef Martinez and Chicho Arango as well as several players from Arena s days in New England The move comes at an gripping time for soccer in Northern California PayPal Park on Sunday hosted a U S men s national squad match in the Gold Cup that saw low attendance but matches in the region are on the rise between PayPal Park where the NWSL will play its championship in November and Levi s Stadium in Santa Clara which will host men s World Cup matches next summer
