The Seattle Seahawks are formally on the market.
Every week after parading via town to have fun the group’s second Tremendous Bowl championship, the group introduced Wednesday that the Paul G. Allen Property is searching for a purchaser for the NFL franchise.
A sale of the 50-year-old group is “in line with 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 experiences from ESPN and others forward of Tremendous Bowl LX that group would go up on the market after that sport on Feb. 8, during 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 group was on the market, and stated “that may change sooner or later per Paul’s needs.”
The group, which entered the league in 1976, might fetch as a lot as $10 billion in accordance 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 about $200 million from earlier proprietor Ken Behring, securing the group’s residence in Seattle after Behring threatened a transfer to California. Allen ran the group till his dying 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 means of divesting lots of the belongings and investments that Allen made throughout his lifetime. Since his dying, Allen’s property has steadily moved to promote main belongings, together with actual property holdings and, extra not too long ago, advancing the sale course of 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 remaining buy settlement.
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