NFL owners vote to approve sale of Seattle Seahawks to Vinod Khosla family

SEATTLE - NFL owners voted to approve the $9.612 billion sale of the Seattle Seahawks from the trust of Paul G. Allen to a group led by Vinod, Neeru and Neal Khosla.

The league's finance committee unanimously voted to recommend approval of the sale to the full collection of owners last week ahead of Wednesday's special league meeting in Atlanta.

"I'm thrilled to announce that the clubs have unanimously approved the transfer of the Seattle Seahawks from the Paul Allen estate to the Khosla family ownership group represented right here, so congratulations to all of you," commissioner Roger Goodell announced. "Before we get to the celebration there, I just want to thank Jody (Allen), the entire Allen family, and of course the Seahawks for their stewardship of the team since Paul's death and even since he took over ownership. They have done an amazing job over the 30 years and I know that the Khosla family respects that, appreciates that, and will do their best to beat that standard."

The backstory:

The $9.612 billion is a new record for an NFL team, surpassing the $6.05 billion the Washington Commanders sold for in 2023.

"As Roger said, it's pretty simple when the team is one functioning as well as it is today," Vinod Khosla said. "How often do you get to buy a franchise that just won the Super Bowl? So we are incredibly lucky and humbled by this gift, I would say, from the Allen Trust.

"The task ahead is actually pretty simple – keep the winning streak alive, get another Super Bowl."

The other owners have been incredibly welcoming and willing to teach us, and so we'll learn a lot. We'll learn a lot from management and see what they are recommending. So we'll just be in learning mode for quite some time."

The purchase is expected to fully close in September. Neeru Khosla, wife of Vinod Khosla, will serve as the controlling owner under the proposed structure. Their son, Neal Khosla, is also expected to take on a significant leadership role in the organization.

"He's been a big fan of sports and, in particular, football, so he's wanted forever to get involved in actually strategizing," Neeru Khosla said of Neal. "So he's the one who actually really pushed us into doing this. He's worked really hard so I'm very proud of him."

The NFL finance committee consists of chairman Clark Hunt (Kansas City), Arthur Blank (Atlanta), Joel Glazer (Tampa Bay), Josh Harris (Washington), Shahid Khan (Jacksonville), Robert Kraft (New England), Jeffrey Lurie (Philadelphia), Greg Penner (Denver), and Woody Johnson (NY Jets).

"The other owners have been incredibly welcoming and willing to teach us, and so we'll learn a lot. We'll learn a lot from management and see what they are recommending. So we'll just be in learning mode for quite some time," Vinod Khosla said.

Related: Seattle Seahawks sale: Who is Vinod Khosla?

Dig deeper:

The Seahawks announced they would be put up for sale shortly after Super Bowl LX in February, and reached an agreement with the Khosla family in July.

Allen signed the Giving Pledge in 2010, which vowed to contribute a large portion of Allen's wealth to philanthropic endeavors. That pledge required that the Seahawks and Portland Trail Blazers eventually be sold, so the proceeds could be donated to charity. The Trail Blazers sold to Carolina Hurricanes owner Tom Dundon in March for a reported $4.25 billion.

Paul Allen purchased the Seahawks in 1997 for $194 million. The purchase price of $9.6 billion means the team has increased nearly 50 times in value since Allen bought the team.

NFL ownership rules require the majority owner to hold at least a 30% stake in the franchise and limits the total number of partners to 25. The Khosla family is still the only known entity involved in the sale, though rumors of minority partners tied to venture capital have been reported.

The Khosla family has also held a limited 3.1 percent stake in the 49ers, which they will need to divest to complete the sale. 

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