SEATTLE — The Estate of Paul G. Allen has announced that it has entered into a formal sale agreement for the Seattle Seahawks.
The agreement was made with an “ownership group led by the Kholsa family for the Seattle Seahawks NFL franchise,” according to the Allen estate.
The Khosla family will become the team’s controlling owner.
This also includes Vinod Khosla, who is also a San Francisco 49ers limited partner.
“We are honored to be entrusted as the next stewards of the Seattle Seahawks. We look forward to building on the winning legacy Paul Allen created and to earning the trust of the Seahawks organization and fans everywhere,” said Vinod Khosla, on behalf of the Khosla family.
Terms of the transaction were not disclosed.
According to ESPN NFL senior insider Adam Schefter, the purchase was agreed upon for $9.6 billion.
The transaction remains subject to NFL approval in the next few months.
The team officially went up for sale in February after the Seahawks’ Super Bowl win, in a directive from Allen’s estate to sell all his sports holdings and direct those proceeds to charity.
This is a developing story.
KIRO 7 is working on learning more information and will have updates as they become available.