Tech billionaire Vinod Khosla and his family have reached an agreement to buy the Seattle Seahawks for $9.6 billion, according to people familiar with the details, as reported by Variety‘s sibling sports news outlet Sportico.
The deal marks 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.
Khosla’s wife Neeru Khosla will serve as the team’s control owner, according to a memo that the NFL sent Saturday to its clubs. Neeru Khosla is the co-founder and chair of the CK12 Foundation, an education non-profit. Their son Neal Khosla, the CEO of Curai, will also have a leadership role in the team, according to the memo, a copy of which was viewed by Sportico.
