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02/18 12:29 CST Paul Allen's estate says it has begun the process of selling
the Super Bowl champion Seahawks
Paul Allen's estate says it has begun the process of selling the Super Bowl
champion Seahawks
By ANDREW DESTIN
AP Sports Writer
SEATTLE (AP) --- The Seattle Seahawks are going up for sale in accordance with
the wishes of late team owner Paul Allen.
Allen's estate announced Wednesday that it has begun the process of selling the
team, which is just coming off its second Super Bowl victory in franchise
history.
Investment bank Allen & Company and law firm Latham & Watkins will lead the
sales process, which is estimated to continue through the offseason. NFL owners
must then ratify a final purchase agreement.
The estate said the sale is consistent with Allen's directive to eventually
sell his sports holdings and direct all estate proceeds to philanthropy.
The Seahawks have been in the Allen family since 1997, when Paul bought the
Seahawks for $194 million from then-owner Ken Behring.
Since Allen, co-founder of Microsoft, died in 2018 from complications of
non-Hodgkin lymphoma at 65, the Seahawks and NBA's Trail Blazers have been
owned by his sister, Jody. The estate agreed in September to sell the Trail
Blazers to an investment group led by Carolina Hurricanes owner Tom Dundon.
___
AP NFL: https://apnews.com/hub/nfl
