The San Jose Earthquakes have a new owner.

John Fisher is selling the MLS club and its stadium, PayPal Park, to Heath Freeman in a deal worth $625 million. The club announced the sale Friday.

MLS owners voted unanimously Thursday to approve the move. The deal is expected to close in the coming weeks.

Who is Heath Freeman?

Freeman is a co-founder of Alden Global Capital and has been its president since 2014. The firm owns many big newspapers, including the Chicago Tribune, the Denver Post and the Boston Herald. It has faced criticism for deep newsroom cuts.

He also chairs radio giant Cumulus Media. In sports, he runs the Florida Freedom of the Professional Bull Riders and is executive chairman of the AVP beach volleyball league.

Freeman is buying the Earthquakes on his own, not through Alden.

"Our vision is simple - winning on and off the field for San Jose and the entire region," Freeman said.

"We are committed to investing in the team and building a club that consistently competes for championships," Freeman added.

A big payday for Fisher

Fisher and partner Lew Wolff paid a $20 million expansion fee to bring the Earthquakes back in 2007. Fisher later paid to build PayPal Park himself.

He put the team up for sale in June 2025. Fisher is also the owner of baseball's Athletics, who left Oakland and are headed to a new stadium in Las Vegas.

"My family and I have loved owning this club for almost 20 years," Fisher said.

Good timing on the field

The sale comes during one of the best seasons in club history. Under coach Bruce Arena, San Jose went 14-10-10 and finished fourth in the Western Conference.

The Quakes host Houston Dynamo FC in Game 1 of their first-round playoff series Nov. 24.

Two more MLS clubs are still for sale: CF Montreal and the Vancouver Whitecaps.