Seahawks launch formal sale process of franchise
The Super Bowl champion Seattle Seahawks are for sale.
The estate of late owner Paul Allen announced Wednesday that it had "commenced a formal sale process" for the franchise.
Allen, who co-founded Microsoft with Bill Gates, died in 2018 at age 65 due to complications of non-Hodgkin lymphoma.
He bought the Seahawks in 1997, saving the team from potentially being moved to Southern California.
According to Forbes, Allen paid $194 million. The publication's most recent valuation was $6.7 billion, 14th in the NFL.
The Washington Commanders are the NFL team that sold most recently, purchased in 2023 by a group controlled by Josh Harris for a record $6.05 billion. A Seahawks sale is expected to eclipse the $7 billion mark.
Allen's sister, Jody Allen, is the executor of the estate and has been in charge of the Seahawks since his death. He also owned the NBA's Portland Trail Blazers, and a sale of that franchise is in progress.
Carolina Hurricanes owner Tom Dundon is under contract to buy that team in a deal valued at $4.25 billion.
Investment bank Allen & Co. and law firm Latham & Watkins have been selected to lead the Seahawks sale process.
In his estate plan, Allen directed that his sports franchises eventually be sold, with proceeds to philanthropic giving.