SEATTLE, Wash. – The Seattle Seahawks will soon be under new ownership. The estate of Paul G. Allen, which has owned the franchise since the death of the eponymous Microsoft co-founder in 2018, announced a formal sale process was set to begin.
Allen acquired the Seahawks for $194 million in 1997. According to the estate, controlled by Jody Allen, her brother’s will directed that his sports holdings be eventually sold and the money redirected to philanthropy.
The Seahawks announced in a press release that the investment bank Allen & Company and law firm Latham & Watkins would lead the sale process, “which is estimated to continue through the 2026 off-season.”
A final purchase agreement will need to be ratified by NFL owners.
The Seahawks have not changed hands many times since the team’s founding in 1974. The Seahawks were owned by the Nordstrom Estate from 1976 to 1988, then owned by Ken Behring and Ken Hofmann until 1996. The team has been owned by Allen and his subsequent estate ever since.
The Super Bowl LX champions are expected to draw a hefty price. The team is currently valuated at $6.59 billion according to Forbes, an increase of over 3,200% since Allen’s purchase.
