September 30, 2022

Seattle Seahawks aren’t for sale — at least for now. Seahawks president Jody Allen squashed rumors of a possible sale of the franchise on Tuesday, letter release Fans of their future plans with the organization.

Allen, who is also part of the trust that owns the Portland Trail Blazers, listed the NBA franchise in the statement.

“My long-term focus is on building championship teams that our communities can be proud of. Like my brother Paul, I trust and expect our leaders and coaches to build winning teams that deliver results on and off the field and on and off the field. As I mentioned before, neither team is for sale nor are there discussions about the sales.

“There will come a time when these changes will be in light of Paul’s plans to dedicate the vast majority of his fortune to philanthropy, but real estate of this size and complexity could take 10-20 years to finish. Not the predetermined timeline for teams to sell.

“Until then, my focus – and the focus of our teams – is to win.”

Allen currently runs the team as the sister of former Seahawks owner Paul Allen, who died in October 2018. The team is owned by the Paul G. Allen Trust, but Jody Allen is in charge of the trust. There she has It was speculation Over the past few years, the Seahawks could be sold, leading to reports of an imminent sale. Paul Allen’s plans for his trust played a major role in the reports that led to the potential sale of the Seahawks.

Source: “Paul ordered to liquidate the trust after his death and use the assets to fund his passion projects” He told Portland-based reporter John Kanzano back in May. “None of this is up in the air. The instructions are clear: Sports franchises and everything in the box should be sold.”

Allen bought Seahawks in 1997 for $194 million, but they are now worth $3.5 billion (12th in the NFL). Allen, who died in 2018 of complications from non-Hodgkin’s lymphoma at the age of 65, was unmarried and had no children. Judy Allen and her three children are listed as recipients. Allen’s official title is “Seattle Seahawks President,” while Burt Coldy – a longtime friend of Paul Allen – is listed as vice president of both the Seahawks and the Trail Blazers. Allen purchased the Trail Blazers in 1993.

Portland Trail Blazers have also been reported for sale, with Nike founder Phil Knight leading a group that offered to buy Trail Blazers for more than $2 billion. Trail Blazers have a lease with the city that expires in 2025, but Knight — an Oregon native — pledges to keep them in Portland.

As of now, Seahawks and Trail Blazers are reported to be on sale. At some point, the Paul G. Allen Trust will have to move forward on what to do with the two franchises he runs.

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