New Ownership Approved for San Jose
Major League Soccer has approved the sale of the San Jose Earthquakes to Heath Freeman. The transaction values the club and its stadium, PayPal Park, at $625 million.
John Fisher sold the team after owning it since 2007. The MLS Board of Governors voted unanimously on Thursday to approve the takeover. The deal began in June 2025 and will close in the coming weeks. Investment bank Moelis helped arrange the deal.
Freeman is the co founder of Alden Global Capital. He stated that his family is honored to take over the club. He added that his vision is simple, which is winning on and off the field for San Jose and the entire region.
On Field Record and Stadium History
San Jose struggled on the pitch during much of Fisher's time as owner. The club won the Supporters' Shield in 2012, but reached the postseason only four times in the last 11 seasons.
Fisher privately financed the construction of PayPal Park during his tenure. He thanked the fans, coaches, players, and executive staff as he prepared to hand over control.
Things have improved on the pitch recently. Under manager Bruce Arena in 2026, San Jose made the playoffs. They now face Houston Dynamo FC in Round One. Game 1 takes place on Nov. 24 at PayPal Park.
Freeman's Background and Other MLS Sales
Freeman has served as president of Alden Global Capital since 2014. He serves as Chairman of Tribune Enterprises, which owns newspapers like The Chicago Tribune and South Florida Sun Sentinel. He is also vice chairman of MNG Enterprises, which manages papers including the San Jose Mercury News, Denver Post, and the Boston Herald. His firm has implemented severe cost cutting and staff layoffs at those publications.
MLS Commissioner Don Garber thanked Fisher for his commitment over nearly two decades. Garber called Freeman an ambitious owner with a strong belief in the local soccer market.
The Earthquakes are not the only MLS side changing hands. The Saputo family plans to sell CF Montréal, with BMO Capital Markets managing that process alongside National Bank of Canada Capital Markets. The Vancouver Whitecaps are also on the market, with Goldman Sachs leading that sale.
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