RENTON, Wash. -- The Super Bowl champion Seattle Seahawks are officially for sale.
The Paul G. Allen Estate, which has owned the Seahawks since Allen died in 2018, announced Wednesday that it has "commenced a formal sale process" for the team, in accordance with the late owner's will.
ESPN first reported last month that the Seahawks would be put up for sale after Super Bowl LX. Seattle beat New England 29-13 on Feb. 8 to claim the franchise's second Lombardi Trophy. It's the first time in the Super Bowl era that a team has been put on the market shortly after playing in the championship game.
The Allen estate has selected investment bank Allen & Company and law firm Latham & Watkins to lead the sale process, which is estimated to continue through the 2026 offseason, according to the announcement. NFL owners must then ratify a final purchase agreement.
Jody Allen has controlled the Seahawks and the Portland Trail Blazers as the estate's chair in the wake of her brother's death. Paul Allen's will dictated that both teams were to eventually be sold, with all estate proceeds going to philanthropy.
NFL commissioner Roger Goodell referred to that directive when asked during Super Bowl week about a potential Seahawks sale. He denied a Wall Street Journal report that the organization was fined $5 million due to its ownership structure not being in compliance with league rules. That fine was being held in abeyance, a source told ESPN's Seth Wickersham.
The Blazers are in the process of being sold. Bert Kolde, the vice chair of the Allen estate, said during Super Bowl week that the sale is on track to be finalized in the spring.
