Roger Goodell Claims ‘Tremendous Interest’ In Seattle Franchise

Days before Seattle was set to play in — and ultimately win — Super Bowl LX, rumors emerged that, about four years after the death of former Seahawks owner and Microsoft co-founder Paul Allen, his sister, Jody Allen, was finally ready to sell the franchise. With the ownership shares kept in the late-Allen’s trust, his sister was tasked as the executor of his estate. After initially refusing to grant any veracity to the rumors as they focused on the big game ahead, the Estate announced the commencement of a formal sale process 10 days after the team won its second championship.

Early speculation on the sale focused on projected valuations that some tried to push even into 11-digit figures. With the Broncos selling for $4.65 billion in 2022 and the Commanders selling for $6.05 billion in 2023, consistent appreciation on par with that increase — ignoring any additional factors — would put the franchise’s potential value around $10.25 billion, well in range of the $9-11 billion initially speculated. The Browns also recently sold a three-percent ownership share in their franchise, and according to Jonathan Jones of CBS Sports, the transaction was established on a $9 billion valuation, far higher than projected valuations, which put Cleveland closer to $6-7 billion.

In order to reach the record dollar values the NFL is hoping Seattle can reach, there will likely need to be “tremendous interest” to spark a competitive market. Per Jones, though, only one bidder, former Boston Celtics owner Wyc Grousbeck, has emerged as a potential buyer., though 49ers investor Vinod Khosia is reportedly on track to prepare a bid, as well. Early into the process, Los Angeles Clippers owner Steve Ballmer was also reported to be a name to look out for as a potential buyer. The longtime Microsoft CEO owns property in Seattle and a network of approximately $120 billion, but there were concerns that Ballmer was “really a hoops guy” that ultimately wouldn’t be interested in adding a football team to his portfolio.

At this point, it’s not expected that an individual buyer will emerge. More likely, it’s believed that the sale could function in a similar manner as did the sale in Washington. Commanders majority owner Josh Harris put together several limited partners to subsidize his bid. Jones adds that Harris’ purchase of the Commanders wasn’t even really for $6.05 billion, it was for up to $6.05 billion in a complex agreement that “included deferred payments vis ‘earnouts.'” The “earnouts” could end up holding about $200MM of value, which means that the ultimate sale value could end up truly being $5.85 billion, if the “earnouts” aren’t earned.

Goodell could be providing some new information, breaking an update on the changed nature of the sale, or he could just be trying to create the illusion of a crowded market where there is none. Regardless, as the NFL continues its efforts for record valuations and sales, the deal in Washington shows how creative bids can get in an effort to push the apparent value of a bid as high as the league may want it to go.