The Super Bowl Champion Seattle Seahawks are shaping up to make more sports history with a sale in the works that could set a new National Football League (NFL) record. This week’s M&A and Corporate newsletter examines how the team strategically maximized its value before entering into sale discussions, and how businesses can draw from the same playbook as they prepare for an exit.
Following their Super Bowl LX win over the New England Patriots , the Seattle Seahawks are reportedly pursuing a sale of the team, as directed by the estate plan of the team’s late owner, Microsoft cofounder Paul Allen. He purchased the team in 1997 and passed away in 2018, leaving ownership of the Seahawks in a trust managed by his sister, Jody Allen. The trust is directed to pursue the sale of the team and donate the proceeds to charity, but there is no firm timeline for the process.
With the exact timing for the sale left undefined, Allen has not rushed to the finish line. Instead, she focused on building a valuable and winning franchise, ushering in a new era of successful players and coaching staff.
Her off-the-field value management of the Seahawks is nearly as impressive as the team’s Super Bowl performance. Allen’s patience to sell allowed the team’s value to increase to an estimated $7-11 billion. That price tag would exceed the previous National Football League (NFL) deal record of $6.05 billion in the sale of the Washington Commanders in 2023. Some strategic moves that allowed the Seahawks to maximize their value include the following:
- The Seahawks and NFL teams across the league saw their values increase after a favorable 2020 collective bargaining agreement, which divided revenue equally between owners and players, took effect.
- The 2020 deal also set up new broadcasting contracts and unlocked more profitability for owners.
- Allen waited out the terms of a preexisting lease agreement that would have required 10% of the sale proceeds to go to Washington state if the team was sold before 2024.
- The Seahawks’ famous stadium, Lumen Field, is set to receive $19.4 million in state-funded upgrades in advance of the FIFA World Cup 2026™ – Canada, Mexico and the United States, which is scheduled to host six matches in Seattle.
Delaying a sale has had some risks. Under the NFL’s regulations, teams are required to be at least 30% owned by a “controlling owner,” which the current trust does not fulfill. The NFL reportedly did not push for a sale while Allen waited out the 2024 lease terms, but, over the last two years, the league has applied more pressure for a sale, including imposing a $5 million fine that has been held in abeyance following a commitment from the trust to sell the team.
Now, having won the Lombardi trophy, the Seahawks are more valuable than ever, and the time seems right to sell. The team has already retained legal and financial advisors to assist with the sale, and more news about potential bidders is expected during the 2026 off-season.
What Can Businesses Learn From This?
In business, timing is critical. By committing herself to the team and pursuing a growth strategy, Jody Allen maximized the team’s value and increased its appeal to potential buyers. Could she have initiated a sale of the Seahawks in 2019? Probably, but it could have left billions on the table.
By allowing the 2020 collective bargaining agreement and broadcasting contracts to take effect, waiting out the unfavorable lease terms, leveraging the upcoming improvements to Lumen Field, and continuing to actively drive the team itself toward greatness at the Super Bowl, Allen has positioned the company to break the NFL sale record.
When contemplating an exit, business owners must think strategically and consider their long-term plans. Sometimes the question is not “How much can I sell this for today?” but “How much could I sell it for tomorrow?”
Have questions about how to maximize the value of your business? Contact M&A and Corporate lead Connie Phelps at cphelps@berenzweiglaw.com.