Two months ago, the Paul G. Allen estate announced it would be selling the Seattle Seahawks and the other sports assets of the late billionaire. The proceeds will be used to fund philanthropic endeavors, as was the will of the co-founder of tech giant Microsoft.
Allen died in 2018, but the sale hadn’t gone through, mainly to avoid paying the state of Washington 10% of the proceeds. Due to a 1997 agreement with state authorities for public funding of Lumen Field, it was agreed that if the team were sold before 2024, the 10% of the of the gross sale price would go to the state of Washington.
Now it seems that the team could go from the estate of one billionaire tech mogul to the hands of the other. According to reporting by Front Office Sports, Meta’s Mark Zuckberg and Apple’s Tim Cook are interested in buying the Seattle Seahawks. According to the publication, in total, four entities are interested in buying the NFC franchise, although only the identity of Zuckberg and Cook is known.
Multiple sources told Front Office Sports that both tech moguls are weighing in on an offer, although representatives of Allen & Co., the bank in charge of the sale, and of the Paul G. Allen estate have declined to comment. So have representatives for Meta and Apple so far, although a source close to Tim Cook called the rumor “completely false.” Zuckerberg has a massive net worth of $206 billion, while Cook’s is $2.9 billion.
How much would buying the Seattle Seahawks cost?
Earlier in the year, following the Seattle Seahawks Super Bowl victory, The Athletic speculated that the team’s eventual sale could surpass the $6.05 billion record set by the Washington Commanders in 2023. The high price isn’t a uptick from the championship win, which most experts don’t expect will affect the pricing that much.
Mainly, it’s a result of the economics of the NFL and the ever-increasing value of TV rights. According to a report by Sportico last year, the average NFL team is worth some $7.13 billion. The same publication put the value of the Seahawks at $6.59 billion at the time.
Some expect that the team could be sold for around $8 to $9 billion, setting a new pricing record for the NFL.
Also Read:
College Sports Network has you covered with the latest news, analysis, insights, and trending stories in College Football, Men’s College Basketball, Women’s College Basketball, and College Baseball!
