Following a thorough sales process run by Allen & Co., the Estate of Paul Allen has reached agreement to sell the Seattle Seahawks to the Khosla family and several limited partners, subject to membership review and approval. Allen & Co. reported very robust interest in the Club throughout the process, with the Khosla group emerging as the Club’s preferred buyer among multiple qualified bidders. The Khosla family currently owns a limited partner interest in the San Francisco 49ers and would be required to divest that interest.
The Khosla family includes Neeru Khosla, who would serve as the controlling owner, Vinod Khosla, and their son Neal Khosla. Neeru Khosla is an educator and entrepreneur. Vinod Khosla is a tech investor who co-founded Sun Microsystems and currently runs Khosla Ventures, which he founded. Neal Khosla is the CEO of Curai, an Al healthcare company. Neal would be expected to have a significant leadership role in the ownership group.
Allen & Co. has kept us informed throughout the process, and the Commissioner and League staff have had discussions with the Khosla family and its representatives.
We have also commenced both review of key transaction documents and customary due diligence on the prospective ownership group. As this work progresses, we will report to the Finance Committee, which will review the transaction in advance of the membership’s consideration.
Please let us know if you have any questions.
