The Seattle Seahawks are officially up for sale, the team announced Wednesday, marking a major moment for one of the city’s most iconic sports franchises after they just triumphed at the Super Bowl LX.
Read on for everything we know about the sale so far.
The move comes from the estate of late owner Paul G. Allen, who bought the team in 1997 and died in 2018. In accordance with his will, the Paul G. Allen Estate has begun a formal process to sell the team. Allen’s sister, Jody Allen, has served as executor of the estate and team chair since his death. She was directed to eventually sell the Seahawks (as well as the Portland Trail Blazers) and donate most of the proceeds to charity.
The timing is notable. Seattle recently defeated the New England Patriots 29-13 in Super Bowl LX to capture the franchise’s second Lombardi Trophy. This is the first time a NFL team has gone on the market so soon after playing in the Super Bowl.
The Seahawks are expected to command a record-breaking price. The Washington Commanders sold for $6.05 billion in 2023, and industry estimates value Seattle between $6.6 billion and $7 billion. Investment bank Allen & Company and law firm Latham & Watkins are handling the sale. Wondering how long it will take? The sale process is expected to continue through the 2026 offseason. Any final deal must be approved by NFL owners.
For Seattle sports fans, the impending sale brings up a lot of questions. Allen bought the Seahawks for $194 million in 1997 to prevent then-owner Ken Behring from moving the team to Southern California. Now, many will be watching closely to see whether the next owner has local ties. If the final price sets a new NFL record, it could also boost the value of other Seattle teams on the market and further raise Seattle’s status as a premier sports town.