We finally know the fate of the Seattle Seahawks, after months of speculation.
The Seahawks team announced Saturday that it has reached an agreement to be sold to the Khosla family, led by Vinod Khosla, the billionaire entrepreneur who co-founded Sun Microsystems. According to ESPN, the sale is worth a record-breaking $9.612 billion, making it the most expensive purchase of an NFL franchise in league history.
The sale follows the wishes of late Seahawks owner Paul Allen, who directed that his sports teams be sold after his death in 2018. Allen bought the Seahawks in 1997 for $194 million and is widely credited with keeping the team in Seattle during a time when its future here was uncertain.
In a statement, Vinod Khosla said his family is “honored to be entrusted as the next stewards of the Seattle Seahawks” and plans to build on the winning culture Allen created.
The Seahawks have remained under the ownership of Allen’s estate, overseen by his sister Jody Allen, since his passing. The estate officially began the sales process earlier this year.
Before the deal can become official, it still needs approval from NFL owners, who are expected to vote on it during meetings in late August. As part of the agreement, the Khosla family will also give up its ownership stake in the San Francisco 49ers to comply with league rules.
For Seahawks fans, the biggest question is whether the team will stay in Seattle. The answer appears to be yes. The franchise has a lease at Lumen Field through 2032, with options to extend it for decades beyond that.
The sale comes during a successful period for the franchise. The Seahawks are coming off their second Super Bowl championship after defeating the New England Patriots 29-13 in February. If approved, the ownership change will mark the beginning of a new era for one of the NFL’s most valuable teams.
