“The Estate has selected the investment bank Allen & Company and the law firm Latham & Watkins to lead the sale process, which is expected to continue through 2026. The NFL owners must then confirm the final purchase agreement,” the estate’s statement added.
Allen bought the Seahawks in 1997 and won their first Super Bowl in 2013. Allen died in 2018, and his younger sister, Jody Allen, has served as the Seahawks’ chairman since then.
Paul Allen’s will stipulated that the Seahawks would eventually be sold with payments to charity.
Judy Battista, the NFL’s senior national columnist, reported Wednesday that there was an urgency from the league for the Seattle franchise to begin this process before the annual convention, which runs from 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 tag the Josh Harris-led partnership paid for the Washington Chiefs in 2023.