(The Center Square) – The Super Bowl LX champion Seattle Seahawks are officially up for sale.
“The Estate of Paul G. Allen today announced it has commenced a formal sale process for the Seattle Seahawks NFL franchise, consistent with Allen’s directive to eventually sell his sports holdings and direct all Estate proceeds to philanthropy,” the team said in a Wednesday statement.
“The Estate has selected investment bank Allen & Company and law firm Latham & Watkins to lead the sale process, which is estimated to continue through the 2026 off-season. NFL owners must then ratify a final purchase agreement.”
The announcement is not a surprise, following on the heels of news last month that the franchise would be put up for sale after Super Bowl LX, as first reported by ESPN.
After that news broke, the Allen estate put out a statement emphasizing that while the team will eventually be sold per Allen’s wishes to fund philanthropic efforts, there was no immediate, active sale process at that specific time.
“We don’t comment on rumors or speculation, and the team is not for sale,” the statement said. “We’ve already said that will change at some point per Paul’s wishes, but there is no news to share. Our focus right now is winning the Super Bowl and completing the sale of the Portland Trail Blazers in the coming months.”
The Seahawks are expected to sell for a record-breaking price. Analysts initially estimated the team would sell for between $7 billion and $8 billion. However, more recent reports indicated the final bid could be anywhere from $9 billion to $11 billion.
That would surpass the $6.05 billion record set by the Washington Commanders in 2023.
The Seahawks defeated the New England Patriots 29-13 in Super Bowl LX on Feb. 8 at Levi’s Stadium in Santa Clara, Calif.
