San Jose Earthquakes on the Market: John Fisher Selling MLS Club
Business Owner Engages Financial Institution for Sale of Major League Soccer Team: San Jose Earthquakes
Get ready, MLS fans, as the San Jose Earthquakes are hitting the auction block! According to multiple insiders, Earthquakes owner John Fisher has enlisted the help of investment bank Moelis & Co. to sell his Major League Soccer (MLS) team. The announcement is expected any day now - probably this very Wednesday.
Remember Fisher? Besides owning the Earthquakes, he's also the man who moved MLB's Athletics from Oakland. And now, nearly four years after hiring Moelis to explore selling shares of the soccer club, Fisher's going all-in, aiming to sell a controlling interest this time. A source close to the situation, who wishes to remain anonymous due to the confidential nature of the matter, confirms the move.
Moelis, San Jose, and MLS are keeping their lips sealed on the whole thing. But let's be real, when has a little silence ever stopped anyone from talking about MLS?
With a valuation of around $600 million, according to Sportico, the Earthquakes aren't exactly pocket change. Fisher paid a measly $20 million expansion fee for the team back in 2007. The Earthquakes share a stadium with the NWSL's Bay FC, PayPal Park, which, despite last year's third-lowest attendance in the league and lower-ranking revenue, is still a sought-after asset thanks to the Bay Area's deep pool of billionaires.
So, what's the hold-up? Well, it's been nearly three years since an MLS control stake was sold, with Gail Miller reaching a deal back in April to buy Real Salt Lake and the NWSL's Utah Royals for a snazzy $600 million. And even the Vancouver Whitecaps aren't content to sit around - they hired Goldman Sachs to help them find a new owner last December.
With the World Cup on the horizon and potential shifts in the MLS playing schedule and Apple media partnerships, it seems like MLS is reaching a turning point. Time to capitalize on those casual fans and show them the soccer life! And Fisher, between juggling the Earthquakes sale and the Athletics' planned move to Las Vegas, is making sure to cash in on every opportunity.
A Quick Dig:
- Fisher hired Moelis in 2022 to explore selling minority shares of the Earthquakes.
- Fisher intends to sell a controlling interest in the Earthquakes this time around, according to sources.
- The Earthquakes ranked 20th in Sportico's MLS team valuations at $600 million.
- Fisher is worth $3 billion, according to Forbes.
- Fisher owns more than 95% of the Athletics, and they're set to play at Sutter Health Park in Sacramento while their new Vegas stadium is built.
- The Athletics anticipate spending at least two more seasons in Sacramento before settling in Vegas.
- Given the announcement about the potential sale of the San Jose Earthquakes, MLS fans might be intrigued about the changes in ownership.
- With a valuation of around $600 million, the San Jose Earthquakes are attracting the attention of potential investors, including the Bay Area's deep pool of billionaires.
- As John Fisher is also the owner of Major League Baseball's Athletics, he might be looking to invest his earnings in other business ventures such as real-estate, sports or finance, given his net worth of $3 billion.
- The sudden surge in MLS team valuations, with the Earthquakes ranked 20th, has resulted in teams hiring investment banks to find potential buyers, like the Goldman Sachs who helped the Vancouver Whitecaps in their search for a new owner.
