The Seahawks currently aren’t for sale. But it’s clear that they eventually will be.
Eventually could be 2024.
Jim Irsay recently provided that estimate to Bloomberg.com, when discussing teams that may be for sale in the coming years.
“There’s going to be a few,” Irsay said. “Seattle — with Paul Allen my friend unfortunately passing away and that team is in a trust — is going to become available I’d imagine in the 2024 range.”
Any sale before May 2024 would require 10 percent of the proceeds to be paid to the state of Washington.
Irsay underscored one of the challenges the NFL will be facing in the coming years, a concern outlined in Playmakers. Franchise values are skyrocketing, and there aren’t enough people with the money to pay the price for controlling interest in a team.
“I know where franchise values are going,” Irsay said. “And one thing we do know is there’s a high interest out there for people that fell short of the Broncos. There’s some really great people that are capable but the problem now is finding people that have the net worth that can actually buy a team. It’s very difficult.”
The Bronco went for $4.65 million, to the Penner-Walton group. As PFT reported at the time, Josh Harris would have paid $5 billion, if he had an assurance that $5 billion would have secured the team. But if Harris had gone to $5 billion, the Penner-Walton bid would have been even higher.
“You’ll never regret the price you paid for the team,” Irsay said. “Anyone that got [the Broncos] for under $8 billion, they got them for a heck of a deal.”
Indeed they did. The money keeps coming in, with legalized gambling pushing revenues higher and higher. Sooner than later, the run-of-the-mill franchise will be worth $8 billion and then $10 billion, and eventually more.