A group led by tech billionaire Vinod Khosla agreed to buy the Seattle Seahawks in a deal that has been expected to set a National Football League record.
The deal is valued at $9.6 billion, Sportico reported earlier Saturday, citing people familiar with the details.\u00a0<\/p>\n
The estate of Microsoft Corp. co-founder Paul Allen, the franchise’s late owner, has entered into a formal sale agreement with an ownership group led by the Khosla family, including Vinod Khosla, according to a press release from the Seahawks.<\/p>\n
The statement didn’t disclose terms of the transaction, which are subject to NFL approval.\u00a0<\/p>\n
Reported bidders for the Seahawks included Aditya Mittal, chief executive officer of steel and mining company ArcelorMittal, alongside former Boston Celtics owner Wyc Grousbeck, and a separate offer from Khosla, the technology investor who co-founded Sun Microsystems.<\/p>\n
\u201cExcited to be part of this great franchise,\u201d Khosla said Saturday on an X account bearing his name, adding that there would be no further comment until the sale is final.<\/p>\n
The first round of bids for the Seahawks had been due on June 29, people familiar with the process said previously.\u00a0<\/p>\n
The Seahawks, who defeated the New England Patriots in Super Bowl LX in February, had been expected to fetch more than the NFL record of $6.05 billion the Washington Commanders went for in 2023. According to NFL rules, a potential ownership group must have 30% of a purchase price up-front.<\/p>\n
(This story has not been edited by NDTV staff and is auto-generated from a syndicated feed.)<\/p>\n
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