The Super Bowl champions are up for sale.
The estate of Paul Allen announced on Wednesday that the formal sale process for the Seattle Seahawks is officially underway.
Allen, the co-founder of Microsoft, died in 2018 at the age of 65.
“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 announced in a 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.”
Amid reports of relocation, Allen purchased the Seahawks in 1997 for $194 million. He also owned the Portland Trail Blazers and was a co-owner of the Seattle Sounders.
The Seahawks are expected to fetch anywhere from $9 million to $11 million on the open market, which would mark the largest sale of an NFL franchise. In 2023, Philadelphia 76ers owner Josh Harris bought the Washington Commanders for $6.05 million, the current record price.
The Seahawks defeated the New England Patriots 29-13 in Super Bowl LX earlier this month for the franchise’s second title.