"The Seahawks and NBA's Portland Trail Blazers have been owned by the Paul G. Allen Trust since the former owner and Microsoft co-founder died of cancer in 2018. Jody Allen, his sister, took control of the teams and as the chair of the trust with a directive from her brother to eventually sell them and donate the proceeds to charitable efforts."
"The WSJ reported last week that the NFL gave Allen an extended grace period to sell the Seahawks due to a clause in Paul Allen's agreement to build the stadium now known as Lumen Field. It stipulated that if the team were to be sold before a now-passed date -- a source familiar with the clause told ESPN that it was in the spring of 2025 -- then the state of Washington would be entitled to 10% of the sale proceeds."
"But with that clause no longer in effect, the WSJ reported that the NFL fined the Seahawks for continued noncompliance with ownership guidelines. Bert Kolde, the vice chair of the Seahawks, attended Goodell's news conference and declined to comment afterward on the WSJ report. The Seahawks are facing the New England Patriots in Super Bowl LX on Sunday at Levi's Stadium."
Roger Goodell denied a Wall Street Journal report that the Seattle Seahawks were fined $5 million for ownership-structure noncompliance. The NFL reportedly pressured Jody Allen to sell the team because league rules require an individual to be the controlling owner. The Seahawks and the Portland Trail Blazers have been owned by the Paul G. Allen Trust since Paul Allen's 2018 death, with Jody Allen chairing the trust and directed to eventually sell and donate proceeds. The Trail Blazers are being sold. A stadium-agreement clause allegedly gave an extended grace period and would have entitled Washington to 10% if sold before spring 2025. ESPN reported the Seahawks expected to be put up for sale after the Super Bowl; the Paul G. Allen Trust said the team is not currently for sale.
Read at ESPN.com
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