Seahawks put up for sale

[LeftHandSmoke]

Since the sale proceeds, whenever it happens down the line, all goes to charity, then:

Why would Jody care what it sells for? Why not sell it for cheap, to herself, or Bill Gates (Paul's childhood friend) or whatever?

 

[DTiempo81]

Since the sale proceeds, whenever it happens down the line, all goes to charity, then:

Why would Jody care what it sells for? Why not sell it for cheap, to herself, or Bill Gates (Paul's childhood friend) or whatever?

The NFL has to approve the sale first off, and they wouldn't let it be sold for less than market value.

 

[James in PA]

There is a lot of cute wording in these reports and statements. Of course the Seahawks will be sold sometime after this upcoming Super Bowl. If it's one year, two years, or five years from now, they will be sold at some point making that report technically true. As far as the statement from the Paul Allen estate, it's PR 101. "the Seahawks are not for sale" is also technically true. They are not for sale at this moment in time. The statement did not come out and say that the report is false and that there are no plans to sell the team. My guess is that they are in the very early stages of exploring a sale. It wouldn't surprise me in the least if the Patriots were behind this leak.

 

[LeftHandSmoke]

The NFL has to approve the sale first off, and they wouldn't let it be sold for less than market value.

Why would they care, or have any say? The Allen Trust says what is does. She can sell it for $1 if she wants to, to someone she believes would take great care of the team.

 

[HOF Hater]

Why would they care, or have any say? The Allen Trust says what is does. She can sell it for $1 if she wants to, to someone she believes would take great care of the team.

Yeah thats not how that works. The NFL has a big say in the value and sale of it's teams

 

[DTiempo81]

Why would they care, or have any say? The Allen Trust says what is does. She can sell it for $1 if she wants to, to someone she believes would take great care of the team.

That's not how it works. It takes something like 24 of the 32 owners (well 31 and GB board) to approve, and that is AFTER a major financial audit that ensures the new owner(s) have the financial stability to run the team. There are also the personal character side of things that they reportedly consider as well.

So yes, technically Jody could attempt to sell the team for a dollar, but the NFL would not allow the sale to go through, and they would have to void the sale.

 

[kidhawk]

Why would they care, or have any say? The Allen Trust says what is does. She can sell it for $1 if she wants to, to someone she believes would take great care of the team.

Two reasons why they care.

1) Teams sold below value will affect the price of other team values and team value is the majority of an owners portfolio.

2) The NFL doesn’t want any owners coming in to compromise the good thing they have going for them.

 

[LeftHandSmoke]

It takes something like 24 of the 32 owners (well 31 and GB board) to approve

Maybe they would approve a very low price, so long as it goes to her or to some other multi-$B. This Trust thing is a unique situation.

 

[LeftHandSmoke]

When the time comes, 2 yrs down the road or whatever, my preference for many reasons is that it goes to Gates, who lives just up the lake and was Paul's friend starting all the way back in school in Seattle's Windermere neighborhood. Microsoft co-founders too, it would 'fit' nicely and since Gates has basically infinite money, he may also put it into a Trust.

 

[DTiempo81]

Maybe they would approve a very low price, so long as it goes to her or to some other multi-$B. This Trust thing is a unique situation.

No, but they do allow groups of people/investors to purchase teams. So while it wouldn't be for a very low price, yes there is the possibility that one person doesn't have to take on the total cost of the purchase which opens up a lot of options for ownership.

 

[JPatera76]

This is a nothing burger that’s always been o the table. I think too many of you are drinking the coolaide that Seth Wickersham, Brady Henderson currently feeding. I question their motives and “ethics” either flinging known shit until it actually sticks.
In the end I’m going to believe what the estate says vs what “reporters/journalists”say.

 

[LeftHandSmoke]

No, but they do allow groups of people/investors to purchase teams. So while it wouldn't be for a very low price, yes there is the possibility that one person doesn't have to take on the total cost of the purchase which opens up a lot of options for ownership.

Again, where is there any incentive for Jody to sell to the highest bidder given that there's absolutely no benefit to her in doing so? She may as well sell it to herself, or Gates, or whatever she likes. Given the Trust, it's hard to imagine the other NFL owners having anything to do with it, legally or otherwise.

 

[DTiempo81]

Again, where is there any incentive for Jody to sell to the highest bidder given that there's absolutely no benefit to her in doing so? She may as well sell it to herself, or Gates, or whatever she likes. Given the Trust, it's hard to imagine the other NFL owners having anything to do with it, legally or otherwise.

Again, it has nothing to do with what Jody wants. She cannot sell without the NFLs approval, not sure why you don't understand that. The NFL has EVERY reason to want it to go to the highest bidder. That doesn't mean it will. Obviously, if the best candidate to purchase the team isn't the highest bidder, but matches the rest of their qualifications more closely, I could definitely see them not driving for maximum value. Don't fool yourself into thinking that means the team will be sold at a discount to someone local.

 

[LeftHandSmoke]

The NFL has EVERY reason to want it to go to the highest bidder.

Given the Trust, am not sure about their ability to enforce this! Guess we'll see

 

[notyou]

When the time comes, 2 yrs down the road or whatever, my preference for many reasons is that it goes to Gates, who lives just up the lake and was Paul's friend starting all the way back in school in Seattle's Windermere neighborhood. Microsoft co-founders too, it would 'fit' nicely and since Gates has basically infinite money, he may also put it into a Trust.

No way in hell should Gates get the Hawks.

 

[RiverDog]

Again, it has nothing to do with what Jody wants. She cannot sell without the NFLs approval, not sure why you don't understand that. The NFL has EVERY reason to want it to go to the highest bidder. That doesn't mean it will. Obviously, if the best candidate to purchase the team isn't the highest bidder, but matches the rest of their qualifications more closely, I could definitely see them not driving for maximum value. Don't fool yourself into thinking that means the team will be sold at a discount to someone local.

This is correct. The other owners aren't going to approve a low-ball bid because it devalues their own team. They want it to sell for as high of a price as possible as it means when it comes to selling their own team, they're going to get a higher price.

However, I do think that the league likes the Seattle market and would prefer local ownership, so they may consent to a hometown discount vs. a higher bid from outside the region. I don't think they want it sold to another Ken Behring or Clay Bennett.

 

[LeftHandSmoke]

No way in hell should Gates get the Hawks.

Why not? He can easily afford to improve the stadium, do something cool for Seattle, uphold the Allen legacy, etc.

And again: The money all goes to charity, so why on earth will Jody care about 'highest bidder' versus 'who will do the right thing for Seattle'?

 

[DTiempo81]

Why not? He can easily afford to improve the stadium, do something cool for Seattle, uphold the Allen legacy, etc.

I think recent Epstein list stuff has some people conflicted.

And again: The money all goes to charity, so why on earth will Jody care about 'highest bidder' versus 'who will do the right thing for Seattle'?

These has been covered. Repeatedly.

 

[LeftHandSmoke]

I think recent Epstein list stuff has some people conflicted.

Gates screwed around a lot, so long as nobody got hurt then I really don't give a f*ck And I have no idea about all the Epstein saga.

Funny story: My brother, who worked at Microsoft, once got called in for an urgent meeting at Microsoft HQ. He was driving his silly '69 Vette convertible, red with a black top and very loud side pipes, it set off many car alarms, and he could find only one space to park. When he looked up there were two armed security guys, he had by mistake parked next to Bill's '65 Stang

 

[renofox]

Again, where is there any incentive for Jody to sell to the highest bidder given that there's absolutely no benefit to her in doing so? She may as well sell it to herself, or Gates, or whatever she likes. Given the Trust, it's hard to imagine the other NFL owners having anything to do with it, legally or otherwise.

Fiduciary Duty.