The Super Bowl champion Seattle Seahawks have formally announced the team is 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 Paul Allen estate said in a statement on Wednesday.
The news comes less than two weeks after the Seahawks' win over the New England Patriots in Super Bowl LX on Feb. 8.
"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 estate's statement continued.
Allen purchased the Seahawks in 1997 and earned the franchise's first Super Bowl win in 2013. Allen died in 2018 and his younger sister, Jody Allen, has served as chair of the Seahawks since then.
Paul Allen's will stipulated that the Seahawks would eventually be sold with the proceedings given to philanthropic efforts.
NFL Senior National Columnist Judy Battista reported on Wednesday that there was some level of urgency from the league for the Seattle franchise to start this process prior to the Annual League Meeting, which runs March 29 to April 1 in Phoenix.
The Seahawks' sale price is expected to set a new NFL record, surpassing the $6.05 billion price a partnership led by Josh Harris paid for the Washington Commanders in 2023.
