Now that the Seahawks have won their second Super Bowl, it’s time to move forward with a sale of the franchise.
Ben Fischer of Sports Business Journal reports that the Seahawks have lined up outside entities to handle the process. Specifically, investment banking firm Allen & Co. and the Latham & Watkins law firm will lead the process for the Paul G. Allen Trust.
Allen bought the team in 1997. After his death in October 2018, his sister, Jody, took control of the team, with the understanding that the team would eventually be sold and the proceeds going to charity.
The league didn’t push the issue until after the expiration of a lease term in May 2024 that would have required 10 percent of the money to go to the state of Washington. Since then, the league has been pressuring Jody Allen to sell, culminating in a $5 million fine that has been held in abeyance with the understanding that the team will be sold.
The biggest question is the amount. Some within league circles believe the price will land in the range of $9 billion to $11 billion. And the fact that the Seahawks have just won the Super Bowl won’t drive the price down.
In 2023, the Commanders went for $6.05 billion, at a time when the franchise fell squarely into the fixer-upper category. The Seahawks are a turnkey operation, with no need to overhaul anything. They have a G.M. in John Schneider who has built two separate Super Bowl rosters (and who could be in line for a bronze bust in Canton). They have a young head coach in Mike Macdonald who climbed to the top of the NFL’s mountain in only his second year on the job.
There’s no heavy lifting to be done with the Seahawks. Only smooth sailing. And there’s real value in that.
Our guess? This thing is going to start moving.
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