The Paul G. Allen Estate spokesman’s statement is in reaction to an ESPN report Seattle’s NFL team will go up for sale soon.
Could this Super Bowl be the last under an ownership structure the Seahawks have had — and enjoyed their greatest success — for almost 30 years?
The Seahawks will be up for sale sometime after Super Bowl 60 the team is playing Feb. 8, ESPN reported Friday.
A spokesman for the Paul G. Allen Estate that owns the team in the wake of Allen’s death in 2018 issued the following statement Friday afternoon: “We don’t comment on rumors or speculation, and the team is not for sale. We’ve already said that will change at some point per Paul’s wishes, but I have no news to share. Our focus right now is winning the Super Bowl and completing the sale of (Allen’s NBA) Portland Trail Blazers in the coming months.” As that statement refers to, Allen dictated to his estate that it sell the Seahawks and the Trail Blazers, as part of sales of many of the co-founder of Microsoft Corp.’s worldwide interests. A spokesman for Vulcan, Inc., Allen’s company that runs the Seahawks, reiterated to The News Tribune in the summer of 2023 the process of the estate reviewing and selling Allen’s assets include the Seahawks could take 10 to 20 years.”
Based on previous NFL team sales and the valuation of the Seahawks given the league’s ballooning revenues from year over year from new media rights deals and multiple other sources, some estimate a Seahawks’ sale in 2026 could command $8 billion. Or more.
Allen bought the Seahawks in 1997 for $200 million.
When he did, he signed a 30-year lease for the Seahawks to move into their new stadium on the south end of downtown Seattle now called Lumen Field. The team began play there in 2002.. That lease is to end after the 2031 season. The stadium lease in Seattle reportedly has options for the Seahawks owner extend it another 20 years beyond 2031. Jody Allen, Paul’s sister, became the team chair after her brother died seven-plus years ago.
She was on a stage on Lumen Field Sunday night lifting the George Halas Trophy for the Seahawks’ first NFC championship in 11 years.
Category: General Sports
