The Seattle Seahawks have new owners, and the price tag is staggering: $9.612 billion.

The Paul Allen estate announced July 11, that it reached a formal agreement to sell the franchise to an ownership group led by the Khosla family, a Silicon Valley tech dynasty.

The deal shatters the previous NFL record of $6.05 billion paid for the Washington Commanders in 2023 and ranks as the second-largest sports franchise sale in North American history behind the Los Angeles Lakers' $10 billion sale in 2025.

Per an NFL memo sent to all 32 teams Saturday and confirmed by The Seattle Times, Neeru Khosla will serve as the controlling owner.

Her son Neal Khosla is expected to hold a leadership role, according to the same memo. Vinod Khosla, 71, co-founded Sun Microsystems in 1982 and founded venture capital firm Khosla Ventures. Forbes estimated his net worth at $15.6 billion as of May 2026.

"Excited to be part of this great franchise," Vinod Khosla said in a statement Saturday. "Also excited to see the money all go to a non-profit. No other comments till sale is final."

The Khosla group beat a competing bid from a group led by Boston Celtics alternate governors Wyc Grousbeck and Aditya Mittal, according to Seahawks Wire.

For fans across the Everett area, the football operation appears stable. Head coach Mike Macdonald, who led Seattle to a 29-13 championship win over New England on Sunday, February 8, is under contract through 2029. General manager John Schneider is locked in through 2031. All but five players who took offensive or defensive snaps in that Super Bowl remain on the roster.

The team also holds a long-term lease at Lumen Field through 2031 with three 10-year extension options. The franchise has sold out 190 consecutive games, according to The Seattle Times.

The Khosla family must divest a 3.1% minority stake in the San Francisco 49ers, acquired in May 2025, before the deal can close. NFL rules prohibit cross-ownership of franchises.

The league's Finance and Ownership committees will review the transaction, with a vote by all 32 owners requiring three-fourths approval expected at a league meeting on Wednesday, August 26.

The league and the Allen estate aim to complete the transfer before the Seahawks open the 2026 season on Wednesday, September 9, hosting New England in a Super Bowl rematch at Lumen Field.

Paul Allen bought the Seahawks in 1997 for $194 million, saving the franchise from Ken Behring's attempted relocation to Southern California. Allen died in October 2018. His will directed that sale proceeds go to philanthropy. The Khosla family becomes just the fourth ownership group in the team's 51-year history.

King County council member Pete von Reichbauer, who helped broker the 1997 Allen purchase, said Saturday: "If you ask anyone in Silicon Valley who has worked with the Khosla family, they will be bringing the same tradition of excellence that the Nordstrom family started the franchise with and the Allen family continued with."