The Seattle Seahawks NFL franchise has officially been placed on the market by the estate of its late owner.
Paul Allen’s estate made the announcement Wednesday that they have begun the official process to sell the Super Bowl-winning team.
Allen, who helped start Microsoft alongside Bill Gates, passed away in 2018 at 65 years old from complications related to non-Hodgkin lymphoma.
The tech billionaire purchased the Seahawks in 1997, preventing the franchise from a potential relocation to Southern California.
Forbes reports that Allen’s original investment was $194 million. The financial publication now estimates the team’s worth at $6.7 billion, ranking it 14th among NFL franchises.
The most recent NFL team transaction involved the Washington Commanders, which Josh Harris and his investment group acquired in 2023 for a record-breaking $6.05 billion. Industry experts anticipate the Seahawks sale will surpass the $7 billion threshold.
Since Allen’s passing, his sister Jody Allen has overseen the franchise as the estate’s executor. The late owner also possessed the Portland Trail Blazers basketball team, which is currently undergoing its own sale process.
The Trail Blazers are set to be acquired by Carolina Hurricanes owner Tom Dundon in a transaction worth $4.25 billion.
The financial firm Allen & Co. along with legal representatives from Latham & Watkins will handle the Seahawks sale proceedings.
Allen’s will specifically outlined his intention for his sports properties to eventually be sold, with the money generated going toward charitable organizations.
