San Jose Earthquakes Sold for $625 Million

The sale of MLS club San Jose Earthquakes has been officially approved. Heath Freeman, co-founder of Alden Global Capital, bought the club for $625 million from its owner John Fisher and his partners.

According to a report by The Athletic, the $625 million valuation includes the club's stadium, PayPal Park. The sale was unanimously approved by the MLS Board of Governors at this week's meeting in Miami.

In a statement, the club's new owner Heath Freeman said they aim for success both on and off the field for San Jose and the entire region. Freeman said he believes the future of the Earthquakes is very bright and expressed his eagerness to take the club to unprecedented achievements.