The Seattle Seahawks are being sold to the Khosla family, including Vinod Khosla, in accordance with the wishes of late team owner Paul Allen, the team announced on Saturday.
The Khosla family entered into a formal agreement to purchase the defending Super Bowl champions for $9.612 billion, according to a person familiar with the deal. The person spoke to the The Associated Press on condition of anonymity because the deal is still subject to approval by the NFL.
The Khosla family will become the team’s controlling owner, according to a social media post by the Seahawks.
“We are honored to be entrusted as the next stewards of the Seattle Seahawks,” Vinod Khosla said in a statement. “We look forward to building on the winning legacy Paul Allen created and to earning the trust of the Seahawks organization and fans everywhere.”
Allen’s estate announced on Feb. 18 it had begun the process of selling the team, which is coming off its second Super Bowl victory in franchise history. Investment bank Allen & Company LLC and law firm Latham & Watkins led the sales process, which was estimated in February to continue through the offseason.
