The Seattle Seahawks have began the process to sell the team, in what is set to be the biggest ever deal for a National Football League franchise.
The Seahawks have retained investment bank Allen & Co. to manage the sale, according to an announcement Wednesday, and comes just weeks after the team's triumph in Super Bowl LX.
The franchise is owned by the estate of the late Microsoft Corp. co-founder Paul Allen, who died in 2018. His sister Jody Allen is the executor of the estate, valued at about $20 billion at his death, and is overseeing the selling of his assets to raise money for charity.
A Seahawks sale could become the largest NFL deal ever, likely topping the $6 billion Washington Commanders purchase in 2023. Sportico values the Seahawks at $6.6 billion, 14th largest in the league. The biggest deal for control of a sports team remains Mark Walter's $10 billion purchase of the NBA's Los Angeles Lakers last year.
The test for the NFL will be to find a rich enough buyer. League rules require the principal controlling owner of a franchise to personally secure 30% of the capital for a purchase.
Seattle has its fair share of billionaires, and bankers have a long list of interested parties. Many have speculated that Amazon.com Inc. Jeff Bezos, might put forward a bid. Bezos previously considered an offer for the Commanders. In early January, before the Seahawks' Super Bowl victory, Bezos had no interest in putting forward a bid, according to a person familiar with the matter.
Paul Allen built his West Coast sports empire by acquiring the Portland Trail Blazers in 1988 for $70 million from a consortium of local investors. Roughly ten years later, he added the Seahawks, reportedly for $200 million. His estate also holds a 25% ownership stake in Major League Soccer's Seattle Sounders.
The potential sale of the Seahawks has been anticipated for some time. As far back as 2022, the late Indianapolis Colts owner Jim Irsay predicted the team would be sold by 2024. In 2025, Bert Kolde, Paul Allen's college roommate and Vice Chair of the Seahawks, told the Sports Business Journal that "this isn't a forever story."
While Jody Allen is a popular owner who cares about the Seahawks, officials at the NFL and a number of other owners pressured the team to sell, Bloomberg reported last month.
The estate has focused on selling down other assets. It recently struck a $4.2 billion deal with financial services magnate Tom Dundon for the Trail Blazers, which is expected to be approved by the league in March.
The Allen estate has a strong relationship with the investment bank Allen & Co., which advised on the Trail Blazers' sale. Notably, despite the shared name, the century-old bank has no relation to the Paul Allen family. Alongside Allen & Co., the trust has hired law firm Latham & Watkins to manage the transaction.