Jody: Seahawks not for sale

[Maelstrom787]

She is basically stealing the team. We have Jed York of the North as our owner.

 

[BlueTalon]

She is basically stealing the team. We have Jed York of the North as our owner.

That's the dumbest thing I've read in a couple of weeks.

 

[sc85sis]

She’s Paul’s trustee, so I’m guessing she knows exactly how long she can wait to put the team up for sale.

 

[Rainger]

She’s Paul’s trustee, so I’m guessing she knows exactly how long she can wait to put the team up for sale.

Not to mention the top legal people to advise her on her position, rights and obligations under the trust. If she says it could take 10 to 20 years than she has been given the legal confidence to come out with this statement. The sale speculation is dead. It isn't going to happen for over 10 years.

 

[Lagartixa]

It might happen in less than ten years, but...

If you read Ms. Allen's actual statement, it says that winding down estates of the complexity of her late brother's can take ten to 20 years. She doesn't say it won't happen in less than a decade.

However...

The law from 1997 that provided the funding for Seahawks Stadium (later Qwest Field, then CenturyLink Field, now Lumen Field) contains a provision that says that if the Seahawks are sold before May of 2024, the state of Washington gets 10% of the proceeds.

So there is a very strong financial incentive (hundreds of millions of dollars) for the Seahawks not to be sold at least until May of 2024.

Click here for a recent article about this.

Rumors about the Seahawks being up for sale immediately can be discarded as extremely likely to be false because of this. The team will almost certainly not be sold before May of 2024.

However, the trust does specify that the pro sports teams must be sold at some point. On the other hand, Ms. Allen states that there is no timeline specified.

 

[Ruminator]

Whenever the Seahawks get sold, the new owner would do well to model the Allen's approach: hire top-tier and proven GM, coach*, and front office personnel; convey to them that the number one priority is to be passionate about the team's success; and leave all the decision-making and team operations to them. The result of this Allen approach? Stadium continues to sell out every home game, thus making the idea of moving the team to another city about as naive as, say, the Boston Celtics NBA franchise getting sold and then the new owners deciding to move the team just because they can. (* = I do realize there was risk involved when they brought in PC, but success it seldom found by those who never take risks.)

 

[John63]

Whenever the Seahawks get sold, the new owner would do well to model the Allen's approach: hire top-tier and proven GM, coach*, and front office personnel; convey to them that the number one priority is to be passionate about the team's success; and leave all the decision-making and team operations to them. The result of this Allen approach? Stadium continues to sell out every home game, thus making the idea of moving the team to another city about as naive as, say, the Boston Celtics NBA franchise getting sold and then the new owners deciding to move the team just because they can. (* = I do realize there was risk involved when they brought in PC, but success it seldom found by those who never take risks.)

Don't believe what she says at all. Buy we will see.

 

[BigMeach]

I mean it makes sense though right? If Paul's vision was to be as philanthropic as possible with his fortune then a fire sale would be the worst way to go about it. You allow the good investments to continue to grow. Sell the bad and move the money. You stipend to charity, you don't dump it all. This would allow the money to make more money and go to more and more charitable causes.