Seahawks Franchise Up for Sale

- The sale is being carried out according to the directive of the late owner, Microsoft co-founder Paul Allen, who passed away in 2018. His will stipulated that his sports assets were to be sold, with the proceeds directed to philanthropy. - Paul Allen's sister, Jody Allen, has been in control of the team as the chair and trustee of his estate since his death. She also oversees the NBA's Portland Trail Blazers, another team owned by the Allen estate that is in the process of being sold. - Paul Allen originally purchased the Seahawks in 1997 for approximately $194 million from then-owner Ken Behring, a move that prevented the team from relocating to Southern California. Prior to Allen's ownership, the team had only won one division title; under his and his sister's leadership, they have become a regular postseason contender with multiple Super Bowl appearances. - Forbes has valued the Seahawks at $6.7 billion, and some analysts expect the final sale price to be between $9 billion and $11 billion. This would likely surpass the record $6.05 billion paid for the Washington Commanders in 2023. - The team's lease at Lumen Field runs through 2032 and includes three 10-year options, making it unlikely that the new owner will move the franchise. The team has sold out every home game since 2003. - The NFL has specific rules for franchise ownership, requiring a controlling owner to hold at least a 30% stake and prohibiting large ownership groups of over 24 people, as well as corporate or non-profit ownership. Any new owner or ownership group will need to be approved by at least 24 of the 32 current NFL owners. - The investment bank Allen & Company, along with the law firm Latham & Watkins, will be leading the sale process, which is expected to continue through the NFL offseason.