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 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.
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Seattle’s defensive coordinator Aden Durde was in buoyant mood after he became the first British coach to win a Super Bowl.
The Seahawks have been in the Allen family since 1997, when Paul bought the Seahawks for $194m 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 Portland 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.
Seattle won Super Bowl 60 earlier this month as they beat the New England Patriots 29-13 at Levi’s Stadium in Santa Clara, California.
The sale of the franchise could set a new NFL record, which is currently held by the $6.05billion paid for the Washington Commanders by a partnership led by Josh Harris in 2023.
