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The National Football League (NFL) has announced that its owners will vote next month on the proposed sale of the Seattle Seahawks. The league has scheduled a one-day owners' meeting on Tuesday (August 26) in Atlanta for this crucial vote. The Paul Allen Trust is selling the defending Super Bowl champions to the Khosla family for a record $9.6 billion, marking the highest sale price for an NFL franchise in history.
The agreement to sell the Seahawks was reached on Saturday, with Vinod Khosla, a venture capitalist and co-founder of Sun Microsystems, leading the purchasing group. Khosla, who previously held a minority stake in the San Francisco 49ers, must divest that interest before officially taking over the Seahawks. The sale requires approval from at least 24 of the 32 NFL team owners to be finalized.
Khosla expressed his excitement about the purchase, stating, "We are honored to be entrusted as the next stewards of the Seattle Seahawks. We look forward to building on the winning legacy Paul Allen created and to earning the trust of the Seahawks organization and fans everywhere." The Khosla family, including Vinod's wife, Neeru, and their son, Neal, will play significant roles in the ownership group.
The sale of the Seahawks follows the wishes of the late Paul Allen, who purchased the team in 1997 to prevent its relocation to Southern California. Allen's estate, led by his sister Jody Allen, has managed the team since his death in 2018. Proceeds from the sale will be directed to charitable endeavors, as stipulated in Allen's will.
The sale is expected to face little resistance, given the Khosla family's commitment to maintaining the Seahawks' successful legacy. The NFL Finance Committee will review the arrangement before the ownership vote. If approved, the Seahawks will become the second most expensive sports franchise sale in North American history, following the Los Angeles Lakers' $10 billion sale last year.