The Seahawks’ sale process appears to be narrowing, with two groups now standing out in the race to buy the team.
Ben Horney of Front Office Sports reports that the leading bids are coming from one group headed by Celtics minority owner Aditya Mittal and former Celtics governor Wyc Grousbeck, and another group led by 49ers minority investor Vinod Khosla. Horney also says one of those groups includes at least one former Seahawks player, though neither the player nor the group has been identified.
That said, the field may not be completely closed. Horney noted that another bidder could still surface, but at this stage it sounds like the outcome will come down to one thing: who puts the biggest number on the table.
Two names that had been part of the broader conversation now appear to be out. Canadian billionaire Steve Apostolopoulos has removed himself from consideration, and Todd Boehly was reportedly interested before falling out of the mix.
The Paul G. Allen Estate, which is selling the team, kept its response brief when asked about the process: “There is no news to share about the sale process.”
The details around the sale have stayed murky from the start. Early expectations pointed to a winning bid somewhere between $9 billion and $11 billion. At one point, ESPN reported that the market was soft, before later saying the market had intensified.
Even with the Seahawks coming off a Super Bowl title and looking positioned to stay competitive for the foreseeable future, the sale hasn’t produced the kind of frenzy some expected. But in the NFL, on-field success only goes so far in determining what a team is worth. Shared league revenue gives every franchise enormous value, which is why the next record is almost certain to fall when Seattle changes hands.
That record has already been reset twice in recent years, first when the Broncos sold for $4.65 billion four years ago, then when the Commanders went for $6.05 billion a year later. The Seahawks sale will set another benchmark; the only question is how far it climbs.
And this likely won’t be the last time the market gets tested. There’s always the possibility that another owner is waiting for the Seattle deal to close before putting a team up for sale.
The league would prefer not to have multiple clubs on the block at once, since scarcity helps push prices higher. If more than one team were available, buyers would have more leverage, and that would make it harder to squeeze out the maximum price.
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