San Jose Earthquakes Sold to Heath Freeman for $625 Million

Major League Soccer has a new controlling owner in the Bay Area, as Heath Freeman has officially acquired the San Jose Earthquakes from John Fisher and partners at an enterprise valuation of $625 million. According to reports, the transaction price encompasses PayPal Park, the club's home venue. The acquisition received unanimous approval from the MLS board of governors during a meeting in Miami.

Fisher initially paid a $20 million expansion fee for the franchise back in 2007, and the team had been on the market since 2025. This transition marks the end of an era while arriving amidst a broader wave of high-profile transactions across the league. Earlier this year, Sporting Kansas City recorded a $700 million valuation in a majority stake sale, while the Columbus Crew reached a $900 million valuation following a 37% stake sale in 2025.

Freeman, co-founder and president of Alden Global Capital, expressed enthusiasm about taking over the franchise with a focus on achieving success both on and off the pitch. MLS commissioner Don Garber praised the incoming owner's ambition and dedication to the regional soccer market. On the sporting front, the Earthquakes enter this new era holding the Western Conference's No. 4 seed, preparing for a first-round postseason series against the Houston Dynamo.