The Seattle Seahawks are set to change hands following a record-breaking agreement to sell the franchise for $9.612 billion. The Estate of Paul G. Allen, which has managed the team since the Microsoft co-founder's death in 2018, reached the deal with a group led by venture capitalist Vinod Khosla. This transaction marks the highest sale price ever recorded for an NFL franchise, surpassing the previous record set by the Washington Commanders in 2023.
Under the terms of the agreement, the Khosla family, including Neeru and Neal Khosla, will become the new controlling owners of the team. Neeru Khosla is expected to serve as the controlling owner. The sale follows a competitive bidding process managed by Allen & Company LLC and the law firm Latham & Watkins, which began earlier this year after the Seahawks secured their second Super Bowl victory.
The deal is currently subject to standard NFL membership review and final approval by league owners. A special meeting is expected to be held on August 26, where owners will vote on the transaction. If ratified, the transition of power is anticipated to be completed in time for the upcoming 2026 season.
Because Vinod Khosla currently holds a minority stake in the San Francisco 49ers, he is required by NFL regulations to divest that interest before the Seahawks deal can be finalized. The league strictly prohibits individuals from maintaining ownership stakes in multiple teams simultaneously.
The Seahawks have been under the stewardship of the Allen family since 1997, when Paul Allen purchased the team for $194 million. The franchise is expected to remain in Seattle, where it maintains a long-term lease at Lumen Field that runs through 2032. The proceeds from the sale are designated for philanthropic purposes, consistent with the long-standing wishes of the late Paul Allen.