The Seattle Seahawks are formally on the market.
Per week after parading via the town to have fun the crew’s second Tremendous Bowl championship, the crew announced Wednesday that the Paul G. Allen Property is looking for a purchaser for the NFL franchise.
A sale of the 50-year-old crew is “according to Allen’s directive to finally promote his sports activities holdings and direct all property proceeds to philanthropy,” an announcement posted by the property learn.
The information confirms reviews from ESPN and others forward of Tremendous Bowl LX that crew would go up on the market after that recreation on Feb. 8, through which the Seahawks beat the New England Patriots, 29-13. The property, chaired by Allen’s sister Jody Allen, denied on the time that the crew was on the market, and stated “that may change in some unspecified time in the future per Paul’s needs.”
The crew, which entered the league in 1976, may fetch as a lot as $10 billion in line with projections following the championship season. The Washington Commanders offered in 2023 for a then-record $6.05 billion.
Paul Allen, the Microsoft co-founder and billionaire philanthropist, purchased the Seahawks in 1997 for roughly $200 million from earlier proprietor Ken Behring, securing the crew’s house in Seattle after Behring threatened a transfer to California. Allen ran the crew till his death in 2018 on the age of 65 after he was identified with a recurrence of non-Hodgkin’s lymphoma.
The sale is a part of the lengthy strategy of divesting lots of the belongings and investments that Allen made throughout his lifetime. Since his demise, Allen’s property has steadily moved to promote main belongings, together with actual property holdings and, extra lately, advancing the sale process for the NBA’s Portland Path Blazers.
The property stated Wednesday that it has chosen funding financial institution Allen & Firm and regulation agency Latham & Watkins to guide the sale course of, which is estimated to proceed via the 2026 low season. NFL homeowners should then ratify a ultimate buy settlement.
Allen became the 12th member of the Seahawks’ Ring of Honor, a distinguished group of people that made important contributions to the franchise, on Oct. 3, 2019.
“He was the proudest 12 of all,” Jody Allen stated in an announcement on the time, in a nod to the crew’s fanbase nickname.
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