After initially side-stepping rumors of a sale, the Estate of Paul Allen has in fact announced its plans to sell the Seattle Seahawks franchise.
Last month, and days prior to their dominating win in Super Bowl LX over the New England Patriots, it was rumored that the current Seattle Seahawks ownership group intended to sell the franchise after the championship game.
After initially side-stepping those reports, the team has concluded its celebrations and does, in fact, plan on initiating the selling process.
Said a statement from the estate of late owner Paul G. Allen on Wednesday, the decision is "consistent with Allen's directive to eventually sell his sports holdings and direct all Estate proceeds to philanthropy."
"The Estate has selected investment bank Allen & Company and law firm Latham & Watkins to lead the sale process, which is estimated to continue through the 2026 off-season. NFL owners must then ratify a final purchase agreement," the estate's statement added, explaining the long process that now commences.
Allen, the Microsoft co-founder purchased the team for $194 million in 1997. He witnessed the Seahawks win their first Super Bowl in 2013.
Since Allen's passing in 2018, his estate had been controlled by his sister, Jody Allen. The estate also owned the NBA's Portland Trail Blazers, however Tom Dundon, the owner of the NHL's Carolina Hurricanes, is in the process of purchasing the Trail Blazers for a reported $4.25 million.
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According to ESPN's Brady Henderson, "NFL commissioner Roger Goodell ... denied a Wall Street Journal report that the organization was fined $5 million due to its ownership structure not being in compliance with league rules. That fine was being held in abeyance, a source told ESPN's Seth Wickersham."
The confirmation of the franchise's sell now enters unprecedented territory in the scope of sports ownership history considering the scale of the franchise and its recent success.
In the Super Bowl era, it will be the first time that the entirety of a franchise will be put on the market after competing in a Super Bowl. A similar instance occurred when Preston Robert Tisch purchased a stake of the eventual champion New York Giants in 1991, but it was only for 50 percent of the team.
Sports valuation site Sportico has the Seahawks ranked as the 14th-most valuable NFL team at $6.59 billion, though team executives expect that it could reach a $7-8 billion figure - a price that would set a new NFL record.
The previous record is held by the most recent sale in the NFL, a $6.05 billion purchase of the Washington Commanders in 2023 by a group led by Josh Harris.