A major business move is taking place in the NFL. A new owner has agreed to purchase the Seattle Seahawks, the reigning Super Bowl champion.
According to a press release from the team, the estate of Paul G. Allen has reached a formal sale agreement with an ownership group led by the Khosla family. Vinod Khosla leads this group as he continues building his business portfolio,
Khosla is the co-founder of Sun Microsystems. He also invested early in such companies as DoorDash, Square, and Instacart while also focusing on clean energy sources. According to Forbes, his estimated net worth is $13.7 billion.
“We are honored to be entrusted as the next stewards of the Seattle Seahawks,” Khosla said in a statement. “We look forward to building on the winning legacy Paul Allen created and to earning the trust of the Seahawks organization and fans everywhere.”
The Seahawks did not disclose the terms of the sale; this is standard operating procedure. However, NFL insider Ian Rapoport reported that the price is a record-setting $9.6 billion.
This move remains subject to NFL approval.
Reports of a potential sale have circulated since Allen’s death in 2018, but they increased in frequency after the Seahawks defeated the Patriots in Super Bowl 60.
The Paul G. Allen Estate announced in mid-February that it had started the formal sale process of the championship-winning franchise while following a directive laid out in the late team owner’s will.
He had specified that both the Seahawks and Trail Blazers be sold with the proceeds going to philanthropic efforts. His sister, Jody Allen, oversaw both franchises as the years progressed.
Once this sale becomes official, the Khosla family will step into a favorable situation. They will take over a team that has consistently contended for playoff appearances while dealing with changes at the quarterback position and at head coach.
The Seahawks have made the Super Bowl four times since entering the NFL in 1976. This team has gone 2-2 in those games.
The two championship wins both came with John Schneider leading the group as the general manager. He has provided a steady hand as the team has gone through numerous changes behind the scenes. He will remain in this role once the sale goes through, and he will help guide the Seahawks into the next era.
