The Paul G. Allen Estate, which has owned the Seattle Seahawks since Allen died in 2018, announced Wednesday that it has officially begun the process of putting the franchise up for sale.

Seahawks for sale: A ‘secret list’ and how much they’re worth

As the sale process gets underway, what are some key things to know?

Former Green Bay Packers vice president Andrew Brandt, who also formerly worked as a legal and business analyst for ESPN, joined Seattle Sports’ Wyman and Bob on Wednesday to break it all down.

Here are some highlights from what Brandt said.

The price will be ‘astounding’

The Seahawks are widely expected to set the league record for the price of an NFL franchise, surpassing the $6.05 billion the Washington Commanders sold for back in 2023.

Last August, Forbes valued the Seahawks at $6.7 billion, which ranked 14th among NFL teams. However, the Seahawks’ value has likely risen after capturing the franchise’s second Super Bowl title earlier this month.

“It’s going to be astounding,” Brandt said. “… We could see numbers north of $7 billion for this franchise.”

How much did value increase from Super Bowl win?

According to ESPN, the Seahawks are the first team to be put up for sale following a Super Bowl victory.

It’s a bit reminiscent of the Boston Celtics, who were put on the market just two weeks after winning the NBA title in the summer of 2024.

“The obvious point is you’re really selling high,” Brandt said. “It’s like a player coming off an incredible season heading into free agency. It’s coming off the best season possible, best result possible.

“It reminds me of the Boston Celtics two years ago that went up for sale while the confetti was still in the air. And that’s kind of happening here.”

However, Brandt said the Seahawks’ long track record of success and bright future are more important to the franchise’s overall value. The Seahawks’ roster is stocked with young talent and they have what’s quickly become one of the league’s best general manager-head coach duos in longtime GM John Schneider and 38-year-old rising star Mike Macdonald.

“I think the bigger thing is this has an opportunity to continue,” Brandt said. “This is not going to be a fly-by-night.”

Private equity could be involved

In 2024, NFL owners voted to allow private equity firms to buy minority stakes in NFL teams. The maximum total private equity share for a franchise is capped at 10% and limited to passive ownership, which means private equity firms don’t have voting or decision-making power with the team.

“There’s obviously never going to be a controlling interest (through private equity), but I would expect some of that,” Brandt said. “I would expect one or multiple billionaires, and some private equity cash infusion supporting the bid that is just there to provide passive money.”

The sale process

NFL ownership rules require the controlling owner to own at least 30% of the franchise, while limiting the total number of owners to 25. The sale also requires approval from at least 24 of the league’s 32 owners.

Brandt was asked about the perception that the rest of the NFL’s owners hold significant sway over the sale process.

“In my discussions with the NFL over the years, I think some of that’s overblown,” Brandt said. “I think they look for someone – like anyone would – that just has incredibly substantial resources, because they’re going to be a partner.

“And when you look for a partner in business, you want to know that they’ve got a backstop that is unbelievably stable.”

The Allen estate selected investment bank Allen & Company and law firm Latham & Watkins to lead the sale process. Brandt said Allen & Company is a “staple” around the NFL.

“Lots of teams have used Allen & Company,” Brandt said. “This is kind of known territory for the NFL. And the NFL has a finance committee. They’re going to vet all these bidders and come down to five, or three, or two, and then put it to the membership.”

What about Bezos?

As people begin to speculate potential ownership candidates, one of the most common names has been Amazon founder Jeff Bezos.

However, Brandt isn’t sure Bezos would be interested in owning a team, given that Amazon Prime already is the exclusive home of the NFL’s “Thursday Night Football.”

“People today have already asked me about Bezos,” Brandt said. “I think Bezos, to me, I’m just saying my personal opinion – why would he want a team? He’s got all 32 teams.

“He owns ‘Thursday Night Football,’ so you’ve got ’em all for a much cheaper price than owning a team.”

Listen to the full conversation with Andrew Brandt at this link or in the audio player near the top of this story. Tune into Wyman and Bob weekdays from 2-7 p.m. or find the podcast on the Seattle Sports app.

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