John Fisher, who also owns the Athletics, confirmed that he is selling the San Jose Earthquakes, which he paid about $20 million for in 2007 and is now valued at $540 million.

The owner of the San Jose Earthquakes announced Wednesday that he has begun the process of selling the Major League Soccer club.

San Jose Earthquakes owner John Fisher is selling the MLS team, an Earthquakes spokesperson confirmed Wednesday. Investment bank Moelis & Co. was hired by Fisher to facilitate selling off the team. “On behalf of Major League Soccer,