SEATTLE (AP) — The estate of the late Paul Allen has initiated the sale of the Seattle Seahawks NFL franchise, following the deceased owner’s previously stated intentions.
On Wednesday, Allen’s estate made public its decision to move forward with putting the team on the market. The timing comes as the Seahawks have just completed a successful season that resulted in their second Super Bowl championship since the franchise began.
The sale will be handled by investment banking firm Allen & Company alongside legal representation from Latham & Watkins. Estate representatives expect the transaction process to extend throughout the NFL’s offseason period. Any final sale agreement will require approval from the league’s ownership group before becoming official.
