Todd Boehly, the Eldridge Industries founder who owns Chelsea FC, the Los Angeles Dodgers, and a stake in the Lakers, has signaled interest in bidding for the Seattle Seahawks, according to Semafor. The Paul Allen estate opened the formal sale process in February, three weeks after the team's Super Bowl LX victory, with early pricing guidance at $10 billion.
The estate hired Allen & Company and Goldman Sachs to run the process. First-round bids are due in late April. The Seahawks would be the most valuable NFL franchise to change hands since Dan Snyder sold the Washington Commanders for $6.05 billion in July 2023, a price inflated by stadium control and the D.C. metro's corporate density. Seattle's valuation reflects $2.1 billion in trailing twelve-month revenue, a 47% operating margin, and a stadium lease that runs through 2032 with favorable city revenue-sharing. The estate is selling the entire 100% stake; Paul Allen's sister Jody, who chairs the trust, does not plan to retain a minority position.
Boehly's interest creates an immediate question: NFL ownership rules cap passive investments at 5% for individuals who control teams in other leagues. Boehly's 20% stake in the Dodgers and 27% minority stake in the Lakers both exceed that threshold. He would need to divest or restructure those holdings to satisfy the league's cross-ownership prohibitions, a process that typically takes six to nine months and requires approval from MLB and the NBA. Chelsea, governed by English Premier League rules, presents no conflict; the NFL permits foreign soccer ownership without restriction.
The bidder roster is forming. Steve Ballmer, the former Microsoft CEO who owns the Clippers, has been mentioned in Seattle tech circles but has not retained advisors. Byron Allen, the media mogul who bid $5.5 billion for the Commanders, is expected to submit a letter of intent. The estate wants a local anchor bidder; MacKenzie Scott, Jeff Bezos's ex-wife and Seattle resident, has $32 billion in liquid assets and a history of rapid, unconventional dealmaking. She has not publicly commented. The estate prefers a single buyer to avoid governance complexity, but league rules allow ownership groups of up to 25 individuals, provided one principal holds at least 30%.
Boehly's track record is uneven. The Dodgers won the World Series in 2020 and 2024 under his co-ownership, but Chelsea's spending since his £4.25 billion acquisition in May 2022 has produced managerial chaos and inconsistent results. The Seahawks' front office, led by general manager John Schneider and coach Mike Macdonald, operates independently; the new owner would inherit a $267 million payroll, a roster built around quarterback Geno Smith ($75 million remaining), and a 2026 first-round pick traded to the Bears in the pre-Super Bowl deal for defensive end Montez Sweat. The Allen estate has emphasized continuity in investor presentations.
The sale process moves faster than most expect. The estate wants a signed agreement by June, with league approval by the October owners' meeting. That timeline compresses due diligence into eight weeks, a constraint that favors bidders with existing NFL relationships or prior franchise ownership experience. Boehly has neither, but his Eldridge platform includes $16 billion in assets under management and a credit facility large enough to fund the purchase without syndication. The Commanders sale required 11 months from announcement to close; the Allen estate's lawyers are citing that precedent to argue for expedited league review.
Watch for Boehly's April filings with MLB and the NBA if he advances past the first round. His Dodgers partners, including Mark Walter and Earvin "Magic" Johnson, would need to approve any restructuring. The Lakers stake, held through a consortium that includes Philip Anschutz, is harder to unwind cleanly. Also watch the stadium lease renegotiation, which the estate flagged as a 2027 priority in the confidential information memorandum. King County officials want the team to fund $400 million in Lumen Field upgrades in exchange for extended naming rights and expanded concert revenue splits.
The Seahawks are the second-most valuable asset in the Allen estate after his art collection, which Sotheby's valued at $1.6 billion in 2022. The estate has already sold his 414-foot yacht Octopus for $325 million and his Malibu compound for $145 million. The football team is the final operating business; everything else liquidates into the trust, which funds research institutes in brain science and cell biology. Jody Allen has run the team since Paul's death in October 2018, but her interests lie in philanthropy, not sports operations. The sale is certain. The buyer is not.
The takeaway
Boehly's NFL bid requires divesting Dodgers and Lakers stakes, compressing a process that killed Byron Allen's Commanders run.
seahawksownershipboehlynflvaluationpaul allen
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