Announcement of Sale
In a significant announcement, the estate of Paul Allen, the former owner of the Seattle Seahawks, has revealed its intention to sell the NFL team, fulfilling Allen’s request prior to his passing. The estate, which has been managing the Seahawks since Allen’s death in 2018 due to complications from non-Hodgkin lymphoma, stated on Wednesday that it has initiated the sale process. This decision aligns with Allen’s wishes to eventually divest his sports franchises and dedicate the proceeds to charitable endeavors.
Background of the Seahawks
The Seahawks, who recently clinched their second Super Bowl title since their establishment, were acquired by Allen in 1997 for $194 million from previous owner Ken Behring. Currently, Allen’s sister, Jody, oversees the franchise, alongside their other team, the NBA’s Portland Trail Blazers.
Sale Process
To facilitate the sale, the estate has enlisted the expertise of investment bank Allen & Company along with the law firm Latham & Watkins. The sale process is anticipated to extend throughout the NFL offseason, with a final sale agreement contingent on the approval of NFL owners.
Legacy and Future
This move follows the earlier decision by the estate to sell the Trail Blazers to a group led by Tom Dundon, owner of the Carolina Hurricanes, finalized in September.
The Seattle Seahawks, as part of Allen’s legacy, will soon embark on a new chapter under new ownership. With this transition, the future of the Seahawks remains a topic of interest for fans and stakeholders in the sporting world.
