Seahawks announce they’re for sale

The Seahawks are officially for sale.

A statement from the team released today said that the estate of the late former owner Paul Allen will sell the team and donate the proceeds to charity, as had been his wish.

“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 said in its 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.”

Allen bought the team in 1997, and when he died in 2018 his sister Jody Allen took control of the franchise. Now the Seahawks will have a new owner, one who is expected to pay somewhere in the neighborhood of $10 billion.