The Seattle Seahawks are officially on the market, as announced by the Paul G. Allen Estate, which has owned the team since Allen's passing in 2018. This marks a significant moment in NFL history, and there's plenty to unpack as the sale process begins.
Record-Breaking Price Tag
The Seahawks are poised to break the NFL franchise sale record, potentially surpassing the $6.05 billion the Washington Commanders fetched in 2023. With Forbes valuing the team at $6.7 billion last August, and following their recent Super Bowl triumph, the price could soar beyond $7 billion. Former Packers VP Andrew Brandt likened this to a player hitting free agency after a career season-it's a prime time to sell.
Impact of the Super Bowl Win
Selling a team fresh off a Super Bowl victory is a rare occurrence, reminiscent of the Boston Celtics' sale post-NBA title in 2024. The Seahawks' consistent success and promising future, highlighted by a talented roster and the dynamic duo of GM John Schneider and head coach Mike Macdonald, only add to their appeal. Brandt emphasized that this isn't a fleeting moment of success but rather a continuation of a strong legacy.
Role of Private Equity
With the NFL allowing private equity to purchase minority stakes, we might see some involvement in the Seahawks' sale. Though capped at 10% and limited to passive roles, private equity could provide financial backing. Brandt anticipates a mix of billionaires and private equity firms contributing to the bid, offering substantial financial support without influencing team decisions.
Navigating the Sale Process
The sale must adhere to NFL rules, requiring a controlling owner to hold at least 30% and limiting ownership groups to 25 members. Approval from 24 of the 32 NFL owners is essential.
While some believe the owners wield significant influence, Brandt suggests the focus is on finding a financially robust partner for the league. The Allen estate has enlisted Allen & Company and Latham & Watkins to guide the sale, with the NFL's finance committee scrutinizing potential buyers before presenting finalists to the league.
Speculation Surrounding Bezos
As speculation swirls around potential buyers, Amazon's Jeff Bezos frequently emerges as a contender. However, Brandt questions Bezos' interest, given Amazon Prime's existing partnership with the NFL for "Thursday Night Football." Owning broadcast rights might offer Bezos a broader reach at a fraction of the cost of team ownership.
This sale is set to reshape the landscape of NFL ownership, and with the Seahawks' strong foundation and recent success, they are an attractive asset for potential buyers. Keep an eye on how this unfolds, as it promises to be a landmark event in the sports world.