The Seattle Seahawks have announced the commencement of a formal sale process, just ten days after celebrating their second Super Bowl championship. The team secured a 29-13 victory over the New England Patriots at Levi”s Stadium, marking a significant achievement in franchise history.
The announcement came from the estate of Paul G. Allen, the late co-founder of Microsoft, who purchased the Seahawks in 1997 for approximately $200 million. According to the estate”s statement, the sale aligns with Allen”s wishes to eventually divest his sports holdings and direct the proceeds towards philanthropic efforts.
The estate has engaged Allen & Company, an investment bank, and Latham & Watkins, a law firm, to oversee the sale process, which is anticipated to extend through the 2026 off-season. Any final purchase agreement will require ratification by NFL owners.
Since Allen”s passing in 2018, his sister, Jody Allen, has taken the role of chairwoman of the Seahawks. At the time of his death, Paul Allen”s sports portfolio included ownership of the Seahawks and the Portland Trail Blazers, along with a 25 percent stake in the Seattle Sounders FC. His will explicitly instructed Jody to sell his sports assets and use the revenue for charitable purposes.
Last year, the Seahawks were valued at approximately $6.59 billion by Sportico, while Forbes placed the team”s worth at around $6.7 billion. The sale is projected to set a new record within the NFL, with estimates suggesting a potential sale price reaching as high as $8 billion.
