New billionaire owner takes over Seattle Seahawks
An unprecedented $9.612 billion deal will put the Seattle Seahawks in new hands. The Paul G. Allen estate confirmed the record-breaking sports franchise sale to the Khosla family just over an hour ago. The blockbuster transaction is now pending final league voting and approval scheduled for late August.
The Seattle Seahawks are being sold to Vinod Khosla and the Khosla family for a reported $9.6 billion, the estate of Paul G. Allen confirmed on Saturday afternoon.
The agreement was first reported by Adam Schefter and Seth Wickersham of ESPN.com. Per ESPN, a memo was sent to NFL teams on Saturday informing them of the agreement and the $9.612 billion sale price. That amount is a new record for NFL teams, surpassing the $6.05 billion the Washington Commanders sold for in 2023.
“We are honored to be entrusted as the next stewards of the Seattle Seahawks,”Khosla said in a statement released by the team. “We look forward to building on the winning legacy Paul Allen created and to earning the trust of the Seahawks organization and fans everywhere.”
In the memo relayed to NFL teams obtained by ESPN, it was stated that Neeru Khosla – the wife of Vinod and mother of Neal – will serve as the controlling owner. Neal is also expected to have a significant role in the leadership group.
“Following a thorough sales process run by Allen & Co., the Estate of Paul Allen has reached agreement to sell the Seattle Seahawks to the Khosla family and several limited partners, subject to membership review and approval. Allen & Co. reported very robust interest in the Club throughout the process, with the Khosla group emerging as the Club’s preferred buyer among multiple qualified bidders. The Khosla family currently owns a limited partner interest in the San Francisco 49ers and would be required to divest that interest.
“Allen & Co. has kept us informed throughout the process, and the Commissioner and League staff have had discussions with the Khosla family and its representatives. We have also commenced both review of key transaction documents and customary due diligence on the prospective ownership group. As this work progresses, we will report to the Finance Committee, which will review the transaction in advance of the membership’s consideration.”
Who are Neeru and Vinod Khosla?
Khosla is a co-founder of Sun Microsystems and has a net worth of around $14 billion, according to Forbes.
Khosla attended Carnegie Mellon University and received an MBA from Stanford University in 1980. He’s also been highly successful as a venture capitalist, including being one of the early investors in OpenAI.
Khosla and his son, Neal, became minority owners of the San Francisco 49ers in 2025. With the purchase of the Seahawks, they will need to divest the 3.1 percent stake in the 49ers.
Neal is the CEO and co-founder of Curai, an AI-assisted telehealth company founded in 2017.
Like Allen, Vinod Khosla signed the Giving Pledge, which pledges at least half of his net worth to charity.
Neeru Khosla is the co-founder and chair of the non-profit CK12 Foundation, which seeks to increase access to low-cost K-12 education. Neeru earned a degree in molecular biology from San Jose State University, and a masters from Stanford University.
The backstory:
Allen signed The Giving Pledge in 2010, which vowed to contribute a large portion of Allen’s wealth to philanthropic endeavors. That pledge required that the Seahawks and Portland Trail Blazers eventually be sold so the proceeds could be donated to charity. The Trail Blazers sold to Carolina Hurricanes owner Tom Dundon in March for a reported $4.25 billion.
Per The Seattle Times, the Seahawks could not be sold prior to May 2, 2025 without 10 percent of the gross selling price going to the Public Stadium Authority. It was a provision of Referendum 48, which was passed in 1997 and led to the construction of Lumen Field.
Paul Allen purchased the Seahawks in 1997 for $194 million. The Denver Broncos were sold in 2022 for $4.65 billion, and the Washington Commanders were sold to Josh Harris in 2023 for $6.05 billion. But that was three years ago and the Commanders were a constant headache for the league under the ownership of Daniel Snyder.
Meanwhile, the Seahawks have been one of the most successful and consistent franchises in the 21st century, and are coming off their second Super Bowl victory – a 29-13 win against the New England Patriots in February.
The Las Vegas Raiders were also given a valuation of $9.9 billion when a 25 percent stake of the team was sold to Egon Durban in March.
The purchase price of $9.6 billion means the team has increased nearly 50 times in value since Allen bought the team in 1997.
NFL ownership rules require the majority owner to hold at least a 30% stake in the franchise and limits the total number of partners to 25.
Allen’s estate selected investment bank Allen & Company and law firm Latham & Watkins to lead the sale process.
NFL owners still must ratify a final purchase agreement.
The Source: Information in this story came from ESPN.com and FOX 13 Seattle reporting.
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