The Seahawks have found a buyer.
The estate of the late Paul Allen announced on Saturday that a group led by Vinod Khosla has agreed to purchase the team. Khosla’s bid was identified as one of two frontrunners to purchase the team this week. Khosla, who is a venture capitalist, is currently a 49ers limited partner and will be required to sell his stake in the Seahawks’ NFC West rivals.
ESPN reports that the price is $9.612 billion, which is a record price for an NFL franchise.
“We are honored to be entrusted as the next stewards of the Seattle Seahawks. We look forward to building on the winning legacy Paul Allen created and to earning the trust of the Seahawks organization and fans everywhere,” Khosla said in a statement.
The rest of the league’s owners will need to approve the sale before it becomes official. A memo to teams from the NFL said that the league has “commenced both review of key transaction documents and customary due diligence” to set up a vote on the transaction.
That vote is expected to take place later this summer.
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