The San Jose Earthquakes are being sold to Heath Freeman for an enterprise value of $625 million, a deal that includes the club's home venue, PayPal Park.
Major League Soccer’s board of governors unanimously approved the sale of the San Jose Earthquakes to Heath Freeman on Thursday. The transaction, which reflects an enterprise value of $625 million, includes both the team and its home stadium, PayPal Park. Freeman, the co-founder and president of Alden Global Capital, is purchasing the franchise from John Fisher, who has owned the club since 2007.
Investment bank Moelis facilitated the deal, which is expected to close in the coming weeks. This agreement concludes a sales process that began in June 2025. While the club won the Supporters' Shield in 2012, the Earthquakes reached the postseason only four times during the last 11 seasons of Fisher's tenure.
Under manager Bruce Arena, San Jose is currently in the MLS Cup Playoffs. The team is scheduled to host Game 1 of a best-of-three series against Houston Dynamo FC on Nov. 24 at PayPal Park.
Freeman currently holds leadership roles at Tribune Enterprises LLC and MNG Enterprises Inc., overseeing publications such as the Chicago Tribune and the Mercury News. His acquisition follows a period where Fisher privately financed the construction of the club's current stadium. Two other MLS franchises, CF Montréal and the Vancouver Whitecaps, currently remain on the market.
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