SEATTLE, July 12 (Our Washington Times) — The estate of Paul G. Allen has reached a formal agreement to sell the Seattle Seahawks to an ownership group led by the Khosla family, the team said.
The deal is not final yet. The Seahawks said the Khoslas would become the team’s controlling owners, but the transaction terms were not disclosed and the sale still needs approval from NFL owners.
What happened
In NFL terms, a controlling owner is the person or family group that has the main authority over a franchise, subject to league rules. In this case, the Seahawks said the ownership group is led by the Khosla family, including Vinod Khosla.
The team announced the agreement from Seattle. The franchise is based in Washington, so the sale is a major local sports-business story for fans, workers and the broader regional market.
Why the team is being sold
This deal follows an earlier step from the estate. In February, the Paul G. Allen Estate said it had started a formal sale process for the Seahawks, saying that move was consistent with Allen’s directive to eventually sell his sports holdings and direct estate proceeds to philanthropy.
What price is being reported
The Seahawks did not disclose a price in its announcement. But Sports Business Journal, Bleacher Report and Fox News reported that the transaction values the team at $9.6 billion, which would be an NFL record if confirmed. Those reports said the figure came from people familiar with the deal; the team itself did not verify it.
What happens next
The sale still has to be approved by the NFL and its owners before it becomes official. The Seahawks said approval is still ahead in the coming months. One report said owners are expected to vote on Aug. 26, although the team has not confirmed that date.
Vinod Khosla said in a post quoted by the Seahawks and Sports Business Journal: “Excited to be part of this great franchise. Also excited to see the money all go to a non-profit. No other comments till sale is final.”
