Seahawks Sale to Khosla Household Formally Closes, Ending Allen Property’s 29-Yr Possession

The sale of the Seattle Seahawks to the Khosla household is full, the workforce introduced Thursday, formally ending the Paul Allen property’s 29-year possession of the franchise.

Vinod Khosla, the co-founder of Sun Microsystems and founding father of Khosla Ventures, turns into the workforce’s chair. His spouse, Neeru Khosla, is the controlling proprietor and also will function president of the Seahawks Charitable Foundation. Their son, Neal Khosla, is vice chair.

“We are honored and excited to begin this next chapter,” the Khosla household stated in an announcement. “The Seahawks are known for their championship culture, winning football, and a deep connection to the 12s and the Pacific Northwest. We look forward to engaging with the Seattle community and building upon the legacy and traditions that make this franchise so special.”

Twelve minority homeowners joined the group: Mark Stevens, the Aramburuzabala household, Val Blavatnik, Sheryl Sokoloff, Gonzalo Hevia Baillères, Jesse van der Werf, Samir Kaul, Sunny Gupta, Nader Naini, Penny Pritzker, and Carlyle and Dynasty Equity along with Sixth Street.

NFL homeowners unanimously authorized the transaction on August 26, clearing the best way for Thursday’s shut. The deal values the franchise at $9.612 billion, a file for an NFL sale, in accordance with the league. Paul Allen purchased the Seahawks for $194 million in 1997; he died in 2018, and his sister, Jody Allen, has run the workforce on behalf of his property since. The property introduced the formal sale course of in February, months after the Seahawks gained Super Bowl LX, and reached an settlement with the Khosla household in July.

Speaking after the homeowners’ vote in August, Khosla referred to as the chance to purchase a not too long ago topped champion uncommon.

“How often do you get to buy a franchise that just won the Super Bowl?” Khosla stated. “So, we are incredibly lucky and humbled by this gift, I would say, from the Allen Trust.”

He described the brand new possession group’s strategy as affected person fairly than hands-on on the outset.

“Keep winning, take a long-term approach, and learn a lot,” Khosla stated. “We don’t know enough, and the other owners have been incredibly welcoming and willing to teach us.”

NFL Commissioner Roger Goodell endorsed the incoming possession group on the identical assembly.

“I know, most importantly, with tremendous confidence that they will be tremendous caretakers of the Seattle Seahawks, the organization and the great partnership they have with the community,” Goodell stated.

Khosla additionally praised the workforce’s fan base, generally known as the 12s, calling it “the best fanbase in the country of any NFL team.” The Khosla household beforehand held a minority stake within the San Francisco 49ers and has lived within the Bay Area since 1986.

The workforce plans to formally introduce the brand new possession group to followers at Lumen Field.