About 4 years ago, following the death of former Seahawks owner and Microsoft co-founder Paul Allen, Nike founder Phil Knight and Alan Smolinisky, minority owner of the MLB’s Los Angeles Dodgers, offered to purchase the NBA’s Portland Trail Blazers from Allen’s estate, controlled by his sister, Jody Allen. On the time, Jody made it known that neither the Trail Blazers nor the Seahawks were up on the market but that that wouldn’t be the case without end. It seems that fateful day may soon be upon us, as Seth Wickersham and Brady Henderson of ESPN report that the Seahawks franchise is expected to go up on the market after Super Bowl LX.
For the reason that late Allen’s passing, it’s been known that his intention was to eventually sell each franchises inside his trust’s ownership. That said, in the intervening time, a spokesperson for the estate released a press release indicating that the announcement from ESPN cannot quite yet be confirmed, per Ian Rapoport of NFL Network.
“We don’t comment on rumors or speculation,” the statement began. “And the team will not be on the market. We’ve already said that may change sooner or later per Paul’s wishes, but I even have no news to share. Our focus without delay is winning the Super Bowl and completing the sale of the Portland Trail Blazers in the approaching months.”
Allen’s wishes for the teams, directed at his sister, were to eventually sell each franchises and to donate the proceeds to charity. The long-term, future focus of the transactions was likely because of a timing issue that might’ve required the Allens to share 10 percent of the proceeds collected on the sale of the Seahawks with the state of Washington, a timing issue that not applies. Now, it seems the wheels could soon be in motion for the team’s eventual sale.
Bought in 1997 for $200MM, the franchise is now currently valued by Sportico at $6.59BB, giving them the 14th-highest valuation within the league. Sales, though, often exceed their valuations, and a few have estimated that selling the Seattle franchise could earn as much as $7BB or $8BB. Regardless, of the profit, though, Jody Allen intends to honor her brother’s wishes of dedicating the proceeds of the sale to philanthropic purposes.
When the primary try and buy the Trail Blazers occurred back in 2022, Jody explained that an estate the dimensions of her brother’s could take 10 to twenty years to wind down, so there wasn’t any deadline or expected timeline dictating the sale of the franchises. Things have begun to maneuver in that direction, though, with the Blazers currently within the means of being sold for over $4BB to Tom Dundon, who owns the NHL’s Carolina Hurricanes.
Allen has made it clear that her focus in the intervening time is on completing the sale of the Trail Blazers and winning one other Super Bowl for the town of Seattle. Win or lose, though, it feels like she may finally start the means of offloading the Seahawks from her brother’s estate after the season ends.