There’s been some recent speculation that the NFL’s Seattle Seahawks and NBA’s Portland Trail Blazers could be put up for sale at some point soon.
Current owner Jody Allen took control of the two franchises when her brother, Paul Allen, passed away at the age of 65 back in 2018. Prior to that, Allen had not been directly involved in the day-to-day operations of the two organizations — leading to speculation that she could look to sell.
That doesn’t seem to be the case. Allen released a statement on Tuesday indicating that there’s no immediate plans to sell the teams. There’s also no timeline for a potential sale.
“As we’ve stated before, neither of the teams is for sale and there are no sales discussions happening. A time will come when that changes given Paul’s plans to dedicate the vast majority of his wealth to philanthropy, but estates of this size and complexity can take 10 to 20 yar to wind down. There is no pre-ordained timeline by which the teams must be sold.”
At the time of his death, Paul Allen was the 44th wealthiest person in the world with a net worth of $20.3 billion. As his sister stated in the aforementioned press release, Allen’s goal has been to donate a vast majority of his wealth to charity.
Selling the Seattle Seahawks would go a long way in meeting that goal given that the Denver Broncos just sold for $4.65 billion. But this doesn’t seem to be in the cards.