Hawks likely NOT for sale for a long time

[seabowl]

Vulcan spokesman reiterates Seahawks likely to be sold by Allen estate within 10-20 years

A Vulcan LLC spokesman gives to The Wall Street Journal that estimate of a sale timeline of the Seahawks, Portland Trail Blazers.

www.yahoo.com

 

[FattyKnuckle]

Vulcan spokesman reiterates Seahawks likely to be sold by Allen estate within 10-20 years

A Vulcan LLC spokesman gives to The Wall Street Journal that estimate of a sale timeline of the Seahawks, Portland Trail Blazers.

www.yahoo.com

That's longer than I expected but I don't necessarily believe it. It could happen at any time after May 21st next year. Also, their valuation of $6.6B for both franchises seems waaaayyy off. The moribund Commanders are going for 6.5. The price of any franchise is only going to go up from there.

 

[CPHawk]

We need a real owner. I’m guessing when Pete finally retires, she will hire prime time to coach the team. And not fire him after two losing seasons.

 

[JPatera76]

That's longer than I expected but I don't necessarily believe it. It could happen at any time after May 21st next year. Also, their valuation of $6.6B for both franchises seems waaaayyy off. The moribund Commanders are going for 6.5. The price of any franchise is only going to go up from there.

I would think franchise successfulness would also drive the price a little higher. Ie Patriots higher priced than Browns.

 

[FattyKnuckle]

I would think franchise successfulness would also drive the price a little higher. Ie Patriots higher priced than Browns.

I was kinda getting at that by pointing out that the Commanders were a dour franchise.

 

[TheLegendOfBoom]

Just my two cents but if Jody Allen is to sell the team, when she does, if she wants the most return, Seattle NEEDS to win one or two more Super Bowls if there isn’t a “timeline” to sell the team.

Here’s a life fact:

Anything (yes, even an NFL franchise) can be sold at any given time. All it takes is an offer, proposal, and an acceptance. And there does not need to be an “open public” offer for that to occur.

I fully expect the Seahawks to be sold, I just hope Carroll is able to win another or two more Super Bowls with the Seahawks before that time is to come.

 

[RiverDog]

It wasn't too long ago when Art Thiel, a guy that's pretty well connected to the Seahawks, said this:

Ultra-rich people and their lawyers, locally and nationally, know the Vulcan trust's requirement to sell Paul Allen's assets is within 10 years of his 2018 death. Seahawks/Blazers could be sold at any time should a take-or-leave blockbuster be offered.

So who do you believe? Until someone produces a genuine, certified copy of Allen's trust that spell out the exact timeline for the sale of the Hawks, it's anybody's guess.

Report: Seahawks could be put up for sale sooner than many expect

Two months remain in the 2022 NFL offseason until the Seattle Seahawks and other teams across the league report for training camp in late July. That said, a report Tuesday indicated that change...

www.fieldgulls.com

 

[jammerhawk]

In terms of resolving any estate the disposition of any asset can be deferred for any length of time if it is in the best interest of the estate. With the recent Commanders sale it’s a wise thing to defer the sale of the team as the new baseline valuations of these franchises soars.

 

[RiverDog]

In terms of resolving any estate the disposition of any asset can be deferred for any length of time if it is in the best interest of the estate. With the recent Commanders sale it’s a wise thing to defer the sale of the team as the new baseline valuations of these franchises soars.

I'm not sure that they can go on indefinitely without settling the estate. I'm not an attorney, but you would think that at some point, the state is going to want their estate tax that would be due on any sale.

 

[jammerhawk]

It depends upon upon the state of the trust which holds the asset, and there is often a general power of postponement that is part of the executor's powers that allows for reasonable postponement of the alienation of an asset for such reasonable period as can be justified for valuation reasons. in short is the estate or the state benefitted long term by the delay.

It is not an indefinite period but can be be lengthy if needed.

 

[RiverDog]

It depends upon upon the state of the trust which holds the asset, and there is often a general power of postponement that is part of the executor's powers that allows for reasonable postponement of the alienation of an asset for such reasonable period as can be justified for valuation reasons. in short is the estate or the state benefitted long term by the delay.

It is not an indefinite period but can be be lengthy if needed.

Thanks for the response. It sounds like you know more about the subject than I do.

However, I've also heard that going beyond 10 years would be very unlikely. Has there ever been a trust that has gone over that period of time before it was settled? Would 10+ years be considered a "reasonable postponement"? It sure seems like an extraordinary amount of time to this layman.

 

[Jville]

The estate trust has be selling off and paying taxes on various assets of Paul's estate since his death. I would think the Seahawks and Trail Blazers will be among the last of the assets to be sold off. I'm in no hurry to see the Seahawks sold.

The Allen era of ownership has been the best in franchise history. I plan on enjoying every day of what is left of this wonderful era.

 

[RiverDog]

The estate trust has be selling off and paying taxes on various assets of Paul's estate since his death. I would think the Seahawks and Trail Blazers will be among the last of the assets to be sold off. I'm in no hurry to see the Seahawks sold.

The Allen era of ownership has been the best in franchise history. I plan on enjoying every day of what is left of this wonderful era.

Since both the Blazers and Hawks are appreciating assets, you are likely correct in them being the last to be sold. Nevertheless, 10 years is a long time.

10-4 about Paul Allen. It remains to be seen if his sister manages the team in the same manner as her brother.

Under the principle of not wanting to jump from the frying pan into the fire, I'm content to stick with Jody as our owner, too. However, I'm a little leery as to whether or not she has the guts to make the tough decisions.

 

[jammerhawk]

Thanks for the response. It sounds like you know more about the subject than I do.

However, I've also heard that going beyond 10 years would be very unlikely. Has there ever been a trust that has gone over that period of time before it was settled? Would 10+ years be considered a "reasonable postponement"? It sure seems like an extraordinary amount of time to this layman.

How could the state or the Estate be hurt by a sale where the price for the asset would increase in value of greater than a billion or two?

Wouldn't the matter correctly be one where a Court could make a decision as to whether the postponement is reasonable or prejudicial? It isn't like the team would be going anywhere any time soon.

 

[chris98251]

Since both the Blazers and Hawks are appreciating assets, you are likely correct in them being the last to be sold. Nevertheless, 10 years is a long time.

10-4 about Paul Allen. It remains to be seen if his sister manages the team in the same manner as her brother.

Under the principle of not wanting to jump from the frying pan into the fire, I'm content to stick with Jody as our owner, too. However, I'm a little leery as to whether or not she has the guts to make the tough decisions.

She let Mr. Eliminated walk and kept Pete and John when Wilson petitioned the them or me scenario. Can't get much tougher decision if you ask me.

 

[keasley45]

I don't know why anyone woukd want the team sold, when the current owner / trustee, is showing capable of making great decisions and has operated with the best interest of the team and city in mind.

Why want a sale when God knows who would buy the team and what level of competence or interest they'd have in stewarding it as the Allen's have.

I'm hoping it doesn't happen for a long long time, and don't see why it would have to, legally.

 

[fenderbender123]

I hear Clay Bennett is looking to buy an NFL franchise.

 

[RiverDog]

How could the state or the Estate be hurt by a sale where the price for the asset would increase in value of greater than a billion or two?

Wouldn't the matter correctly be one where a Court could make a decision as to whether the postponement is reasonable or prejudicial? It isn't like the team would be going anywhere any time soon.

I don't think that we can assume that the value of professional sports franchises will continue to increase indefinitely, or at least increase at the rate they have been. It's very difficult to predict what the business world will be like 10 or 20 years from now, especially in the field of entertainment.

I'm not knowledgeable enough about estates, especially one as large and complicated as Paul Allen's, to offer an educated opinion on what a court might find or whether they'd force her to sell to a group that wants to relocate the franchise. My point is that 10 years is a very long time, and if I were the one that was owed the money, I'd want it within a few years, not a few decades.

 

[jammerhawk]

I'm rather sure that the estate and team trust already has a contingency plan for the payment of taxes, the other beneficiaries remain beneficiaries of a very large estate and are not prejudiced at all. Conditions of a trust being postponed are limited to a life in being plus 21 years as after that the rule against perpetuities kicks in. It is a very complex area of the law.

 

[RiverDog]

She let Mr. Eliminated walk and kept Pete and John when Wilson petitioned the them or me scenario. Can't get much tougher decision if you ask me.

First off, we don't know that Wilson gave Jody a "them or me" ultimatum. All we know is that Russell wanted out.

Secondly, even if Russell did make that kind of demand, the coach/GM are one heck of a lot closer to the owner than is any individual player, even a franchise quarterback, so anyone's default position in any organization would be to trust the person or persons closest to them vs. one of their subordinates, especially ones that are as tenured as PC and JS.