Tech billionaire Vinod Khosla has reached an agreement to buy the Seattle Seahawks for $9.6 billion, according to people familiar with the details.
It’s one of the largest valuations ever for a sports team in a control transaction, nearing the $10 billion price tag in Mark Walter’s purchase of the NBA’s Los Angeles Lakers. The India-born Khosla, who is a prominent VC, is worth about $13.7 billion, according to Forbes. He is buying the defending Super Bowl champions from the estate of late owner Paul Allen.
Khosla’s group beat out a handful of other bidders, including a group led by billionaire Aditya Mittal, a member of one of India’s richest families, said the people, who were granted anonymity because the details are private. Sportico was first to report on Khosla’s interest back in May.
It’s not immediately clear how the deal is being financed. Khosla didn’t immediately respond to an email seeking comment. The Allen estate said Saturday in a statement that the team had been sold to the Khosla family and included a quotation from Khosla himself. The statement did not provide any details about the deal structure or financing, but said the Khoslas would be the team’s new control owner.
