Seahawks sale process begins less than two weeks after Super Bowl

Paul Allen's estate announced it has begun the process of selling the Seattle Seahawks, saying the move follows Allen's directive to sell his sports holdings and direct proceeds to philanthropy; Allen & Company and Latham & Watkins will lead the sales process and NFL owners must ratify a final purchase agreement.

The Seattle Seahawks are being put up for sale by the estate of the late owner Paul Allen, the estate announced Wednesday. The announcement comes less than two weeks after the team won its second Super Bowl. The estate said the sale is consistent with Allen's directive to eventually sell his sports holdings and direct estate proceeds to philanthropy. The process will be led by Allen & Company and law firm Latham & Watkins. Known details: - Allen's estate announced it has begun the process of selling the Seattle Seahawks, reported Wednesday. - Investment bank Allen & Company and law firm Latham & Watkins will lead the sales process. - NFL owners must ratify any final purchase agreement before a sale is completed. - The estate said the sale follows Paul Allen's directive to sell his sports holdings and direct proceeds to philanthropy; his sister Jody has overseen the teams since his death in 2018. - The Seahawks are coming off their second Super Bowl win and are expected to remain in Seattle after a sale is finalized. - The team has a lease at Lumen Field that runs through 2032 with three 10-year options. Summary: The announcement begins a formal sales process that the estate estimates will continue through the offseason and will culminate with approval by NFL owners. Timelines for a completed sale and the identity of potential buyers are not provided by the estate at this time.