Heath Freeman is set to acquire the San Jose Earthquakes and their home stadium, PayPal Park, from John Fisher and Partners, the club announced Nov. 13. MLSโs Board of Governors unanimously approved the transfer, and the club expects closing in the coming weeks. The welcome mat is out; the keys havenโt changed hands. Source
Sportico first reported that the deal carries a $625 million enterprise value. Front Office Sports also reported confirmation of that figure from a source familiar with the matter. The Earthquakes did not disclose financial terms or how much Fisher would receive. Source Source Source
An investment pledge, without the numbers
The announcement names Freeman as the buyer, rather than Alden Global Capital itself. The club identifies him as an Alden founding member and its president since 2014. His newspaper leadership roles include chairman of Tribune Enterprises, whose holdings include the Chicago Tribune, and vice chairman of MNG Enterprises, whose publications include the San Jose Mercury News. Source
His sports rรฉsumรฉ already stretches from bulls to beach volleyball: Freeman is managing partner of Professional Bull Ridersโ Florida Freedom and executive chairman of the AVP, according to the club. Source
Sportico reports that Alden has faced criticism for severe cost-cutting at its publications. That history does not establish plans for cuts at the Earthquakes. Source
โWe are committed to investing in the team and building a club that consistently competes for championships,โ Freeman said in the announcement. Source
The ambition has arrived fully quoted, but without a spending amount or investment timetable in the release. Source
Fisherโs nearly two-decade tenure nears its end
Fisher took ownership in 2007 alongside Lew Wolff. He hired Moelis & Co. to sell the club in June 2025, according to Sportico. Completion would end nearly two decades of ownership. Source Source
The Earthquakesโ announcement credits Fisher with privately financing PayPal Park and says the club won the 2012 Supportersโ Shield and made six playoff appearances during his tenure. Source
Once the deal closes, Freeman will become the clubโs principal owner and represent it on the MLS Board of Governors, according to the announcement. Source
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