New Seahawks owner forced to drop 3.1 percent stake in $8.6bn NFL franchise

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The Seattle Seahawks’ search for a new owner is over, but the agreement has not been finalized just yet.A group led by Vinod Khosla – who has an estimated net worth of $13.8 billion, per Forbes – has bought the Seahawks for a NFL record $9.61 billion.Vinod Khosla won the battle for the Seattle SeahawksGettyIt’s a figure that surpasses the $6.05 billion sale of the Washington Commanders to the Josh Harris Group in 2023.Khosla also holds an ownership stake in the division rival San Francisco 49ers, and according to a memo the NFL has issued, that will no longer be the case.“Following a thorough sales process run by Allen & Co., the Estate of Paul Allen has reached agreement to sell the Seattle Seahawks,” the memo read.“Allen & Co. reported very robust interest in the Club throughout the process, with the Khosla group emerging as the Club’s preferred buyer among multiple qualified bidders. “The Khosla family currently owns a limited partner interest in the San Francisco 49ers and would be required to divest that interest.”The NFL prohibits any ownership group or individual from holding an operational or financial interest in more than one team, meaning Khosla’s 3.1 percent stake in the $8.6bn-valued 49ers will have to be sold before the official handover.A sale of the Seahawks had been expected since Paul Allen’s death at age 65 in 2018.Allen purchased the franchise in 1997 to keep the team from relocating and remained the owner until his passing, some 21 years later.The franchise was subsequently managed by his estate, overseen by his sister Jody Allen, until a formal sale process was initiated.Allen made it a directive for his trust to sell both the Seahawks and the NBA’s Portland Trail Blazers, with proceeds to be donated to philanthropic efforts.Khosla must drop his 3.1 percent stake in the 49ers before the sale can go throughGettyPaul’s sister, Jody, was running the Seahawks after his deathAFPAllen’s estate has already sold the Trail Blazers to a group led by Tom Dundon, who also owns the NHL’s Carolina Hurricanes.The Khosla Group beat out an assortment of potential buyers, including Chelsea FC owner Todd Bohely, and Meta CEO Mark Zuckerberg.Khosla’s son expected to have role in day-to-day operationsDetails continue to emerge on how the reigning Super Bowl champions could operate under it’s new ownership.ESPN’s Seth Wickersham, who broke the news of the sale alongside insider Adam Schefter, gave an insight into the how the daily operations could look.“You never know how these things go, but I think it’s an ideal situation in the sense that he’s coming in, he’s buying a team that obviously is very well-run at the moment,” Wickersham said on ‘The Rich Eisen Show’. “And his son Neal, I think, is going to be heavily involved in day-to-day operations with the team, and his son interned with the 49ers back in the day.Seattle were sold just six months after winning Super Bowl LXGetty“Everybody always says, they always say, what makes a good owner? It’s easier to say what makes a bad owner. “And I think that ownership being involved not in the minutiae of football, but in how football operations work, I think can be a really good thing. “And that will be an interesting case study to see over the coming years how it works in Seattle.”Stay up to date with the NFL across all our talkSPORT platforms – subscribe to our YouTube channel for the latest news, opinion, exclusive interviews and our  daily unfiltered, unscripted show ‘The S* Word, from 8am ET