NFL owners prepare to authorize a record-breaking franchise transition, shifting the defending champions from the long-standing Allen estate to the Khosla family for a staggering $9.6 billion.
For nearly three decades, the Seattle Seahawks have remained under the Allen umbrella.
Now, they're one final league vote away from beginning a new era.
NFL owners are gathering in Atlanta on Wednesday to vote on the proposed sale of the Seahawks from the Paul G. Allen estate to an ownership group led by the Khosla family, bringing Seattle to the final league hurdle before its first ownership change since 1997.
And there's quite a bit of money involved.
The Khosla group has agreed to pay a reported $9.612 billion for the franchise, according to Front Office Sports. The price would set an NFL record for a change-of-control sale, surpassing the $6.05 billion paid for the Washington Commanders in 2023.
The NFL's finance and ownership policy committees unanimously recommended approval of the transaction last week. At least 24 of the league's 32 owners must vote in favor Wednesday for the deal to move forward.
There isn't much reason to expect otherwise.
NBC Sports reported Wednesday morning that the unanimous committee approval should make securing the required 24 votes a straightforward process.
Approval wouldn't technically complete the transaction. Front Office Sports reports the sale is expected to officially close sometime in September.
But it would bring one of the most important chapters in Seahawks history to the doorstep of its conclusion.
Paul Allen purchased the Seahawks for $194 million in 1997 from former owner Ken Behring, who had previously attempted to move the franchise to Southern California. Allen remained owner until he died in 2018.
The Seahawks won their first Super Bowl championship under Allen following the 2013 season. Earlier this year, Seattle won its second championship while the franchise remained under the Allen umbrella.
Now, the defending champions are on the verge of changing hands.
The Seahawks announced their agreement with the Khosla family on July 11. Neeru Khosla is expected to serve as the team's controlling owner, while her husband, Vinod Khosla, is part of the family-led purchasing group. Their son, Neal, is expected to have a significant leadership role in the ownership group.
There are still plenty of questions for the Khosla family to answer about what comes next for the franchise.
Those can wait.
Wednesday is about clearing the final league hurdle.
Twenty-nine years after Paul Allen purchased the Seahawks … Seattle is one league vote away from opening its next ownership era.
