SEATTLE — Now that the estate of Paul Allen has reportedly found a buyer for its National Basketball Association (NBA) franchise, will the Seattle Seahawks be the entity’s next sports property to go up for sale?
Allen, the Seattle-born co-founder of Microsoft who passed away in 2018, was the owner of the NBA’s Portland Trail Blazers as well as the Seahawks and a 25% stake in the Seattle Sounders of Major League Soccer (MLS). Allen’s will directs his sister, Jody, to eventually sell his sports holdings and allocate all the estate proceeds to charity.
The Trail Blazers will be purchased for “more than $4 billion” by Tom Dundon, the current owner of the National Hockey League’s (NHL) Carolina Hurricanes, ESPN reported Wednesday morning. The team reportedly will remain in Portland, which is likely welcoming news to many of the team’s local fans and local politicians who were concerned the organization could relocate with a new owner.
The sale has yet to be formally announced, and even once it is, it will likely take months before the transaction is made official by the NBA’s Board of Governors.
The Seahawks were already the most valuable sports property under Allen’s ownership. Sportico coincidentally released its estimated valuations of all 32 National Football League (NFL) franchises on Wednesday morning, and the Seahawks were No. 14 on the list at $6.59 billion.
Allen purchased the Seahawks in 1997 after the previous owner attempted to move the franchise out of Seattle. Lumen Field was constructed during Allen’s time overseeing the franchise, and the team won its only Super Bowl in 2014.
It is unknown when the Seahawks will be put up for sale. Jody Allen became the executor of her brother’s estate on Oct. 24, 2018, and the Trail Blazers weren’t put for sale until almost seven years later. Valuations for professional sports franchises have only gone up in recent years, especially in the NFL.
The Seahawks just gave longtime general manager John Schneider a contract extension in July that keeps him at the helm of the team through 2031. Head coach Mike Macondald is entering his second year, and the team is embarking on a bit of a new era with several notable players departing during the offseason.
Considering the most recent NFL team up for sale was purchased for over $6 billion in 2023, a transaction of the Seahawks would likely command a price in the realm of that figure.
The valuations of professional teams continue to climb with new television contracts and revenue sources, so it’s likely that Allen and the Seahawks will be in no rush to part ways with the franchise.
