MAY 25: The expectation exists that the Seahawks’ new owner(s) will not immediately show interest in a stadium project, as detailed by Paul Roberts of the Seattle Times. The finances required for a stadium are of course a major consideration for prospective buyers and they will be a key factor in determining whether or not the franchise stays in Seattle. Six years remain on Lumen Field’s current lease agreement, and it could be extended for as many as 30 more. It will be interesting to see if the absence of any major investments on the stadium front being required will broaden the pool of suitors in this case.
MAY 23: NFL commissioner Roger Goodell is pushing back against the recent narrative of a “soft” market for the league’s most recent franchise for sale. After recent reports claimed that there has been less interest in the purchase opportunity for the Seahawks, Goodell has refuted that notion, telling the media that “there has been ‘tremendous interest‘ among prospective buyers,” per NFL insider Mark Maske.
Days before Seattle was set to play in — and ultimately win — Super Bowl LX, rumors emerged that, about four years after the death of former Seahawks owner and Microsoft co-founder Paul Allen, his sister, Jody Allen, was finally ready to sell the franchise. With the ownership shares kept in the late-Allen’s trust, his sister was tasked as the executor of his estate. After initially refusing to grant any veracity to the rumors as they focused on the big game ahead, the Estate announced the commencement of a formal sale process 10 days after the team won its second championship.
Early speculation on the sale focused on projected valuations that some tried to push even into 11-digit figures. With the Broncos selling for $4.65 billion in 2022 and the Commanders selling for $6.05 billion in 2023, consistent appreciation on par with that increase — ignoring any additional factors — would put the franchise’s potential value around $10.25 billion, well in range of the $9-11 billion initially speculated. The Browns also recently sold a three-percent ownership share in their franchise, and according to Jonathan Jones of CBS Sports, the transaction was established on a $9 billion valuation, far higher than projected valuations, which put Cleveland closer to $6-7 billion.
In order to reach the record dollar values the NFL is hoping Seattle can reach, there will likely need to be “tremendous interest” to spark a competitive market. Per Jones, though, only one bidder, former Boston Celtics owner Wyc Grousbeck, has emerged as a potential buyer., though 49ers investor Vinod Khosia is reportedly on track to prepare a bid, as well. Early into the process, Los Angeles Clippers owner Steve Ballmer was also reported to be a name to look out for as a potential buyer. The longtime Microsoft CEO owns property in Seattle and a network of approximately $120 billion, but there were concerns that Ballmer was “really a hoops guy” that ultimately wouldn’t be interested in adding a football team to his portfolio.
At this point, it’s not expected that an individual buyer will emerge. More likely, it’s believed that the sale could function in a similar manner as did the sale in Washington. Commanders majority owner Josh Harris put together several limited partners to subsidize his bid. Jones adds that Harris’ purchase of the Commanders wasn’t even really for $6.05 billion, it was for up to $6.05 billion in a complex agreement that “included deferred payments vis ‘earnouts.'” The “earnouts” could end up holding about $200MM of value, which means that the ultimate sale value could end up truly being $5.85 billion, if the “earnouts” aren’t earned.
Goodell could be providing some new information, breaking an update on the changed nature of the sale, or he could just be trying to create the illusion of a crowded market where there is none. Regardless, as the NFL continues its efforts for record valuations and sales, the deal in Washington shows how creative bids can get in an effort to push the apparent value of a bid as high as the league may want it to go.
As the saying goes, we know he is lying because his lips are moving.
Why wouldn’t one of the best franchises in the NFL not have a lot of interest?…not being argumentative, genuinely curious?
Price tag
Location, politics, money
Seattle has become a sh*thole
There’s probably plenty of interest… from Goodell in moving the team to somewhere in Europe. That would give him a Chibby Checker, moving a bunch of teams to Europe even though absolutely no one else outside of the NFL offices has the least interest in that scenario.
When has a commissioner had to reaffirm the public that a franchise has plenty of interest? Never.
The valuations are so high, and the amount of people with the access to the capital who also have interest in owning an NFL franchise are so comically low, I’m sure prospective buyers are unscrupulously low balling Seattle. Most likely the league will prop up the sale price by adding their own funds to reach that high water mark of franchise sale price, or lending the money at next to zero interest rate to artificially inflate the final number.
If he’s got to say it out loud that’s a problem.
Watch that doofus who bought the Trailblazers buy them and cheap out on everything.
This is the same delusional moron who is saying there is a great demand for a flag football league…lol.
Goodell should be in prison
China probably
They need a new stadium? jfc
It would be great if there wasn’t enough interest and Jody Allen was able to buy it on the cheap!
First we don’t need a new stadium. I will admit when I first walked in I was underwhelmed. It was nothing like T Mobile. After a few games I loved the place. Had season tickets in the Hawks Neat (the triangle at the North End). It has a right on the field feel and the noise you know about the noise. If a new owner wants a new stadium they are nuts or wants to build a monument to him.
This is why Jody would be the favorite to own the team. She supply’s the money and lets the team do their thing. I believe she approves all big contracts. She never oversteps and the personnel love her. Have never heard any negative about her.
Not sure if she can afford it or if she can donate say $6 billion to charity and call it good. Can the league nix it even though she is the owner? I know she got fined for not selling them. Hopefully if she wants she can keep them. With no official sell it won’t lower what Goodell wants for them. To boost the value of the league as a whole. Jody keep the team find a way. Please!!!!!!!!!!!!!