So where is the fire, I hate Florio

[chris98251]

Remember this: Richardson has superstar potential. And if he indeed becomes a superstar, that could make it easier for coach Pete Carroll and G.M. John Schneider to hold their jobs after the team is sold next May, when the requirement to surrender 10-percent of the purchase price to the state of Washington disappears.
Above Per Florio.

Could Seahawks take Anthony Richardson at No. 5?

Strange shifts and adjustments have happened at the top of the draft in recent weeks.

profootballtalk.nbcsports.com

So being sold to whom ? Bezos

In May ?

Anyone hear anything besides rumor and speculation that Jody hasn't already shot down?

 

[Torc]

Next year makes sense. I didn't realize that there is a financial penalty for the team if they're sold before next May.

A little-known clause could mean a slow sale process for the Seahawks, should the Paul G. Allen Trust choose to sell the team. Under a provision to the '97 law funding construction of what’s now Lumen Field, the state of Washington is entitled to 10% of the gross proceeds if the team is sold before May '24. That clause acts as a major disincentive for the trust to sell the team before then, experts said, and is likely a key consideration if Allen’s sister, trustee Jody Allen, explores strategic options. It has been reported that the trust requires her to eventually sell the Seahawks and the Trail Blazers, but it is not clear whether the trust imposes any directives on timing. “Obviously that could impact the date on which somebody offered the team for sale, and the date on which somebody bought the team,” said Washington State Public Stadium Authority Chair Fred Mendoza, whose organization would receive the proceeds for the government.

This may be old news to other people but I didn't hear it until this week.

 

[Hawkinaz]

Don’t get too caught up it’s just the sports media with speculation

 

[nanomoz]

Remember this: Richardson has superstar potential. And if he indeed becomes a superstar, that could make it easier for coach Pete Carroll and G.M. John Schneider to hold their jobs after the team is sold next May, when the requirement to surrender 10-percent of the purchase price to the state of Washington disappears.
Above Per Florio.

Could Seahawks take Anthony Richardson at No. 5?

Strange shifts and adjustments have happened at the top of the draft in recent weeks.

profootballtalk.nbcsports.com

So being sold to whom ? Bezos

In May ?

Anyone hear anything besides rumor and speculation that Jody hasn't already shot down?

The team will be sold. This isn't in question. It's in Paul Allen's will. And after next May, the payback clause to the City of Seattle expires. So a sale won't happen until after then, but it is inevitable.

 

[pmedic920]

The team will be sold. This isn't in question. It's in Paul Allen's will. And after next May, the payback clause to the City of Seattle expires. So a sale won't happen until after then, but it is inevitable.

It’s in his will that the team must be sold?

How do we know this/have access to what his will says?
Is it public information or been officially revealed by his estate?

 

[nanomoz]

It’s in his will that the team must be sold?

How do we know this/have access to what his will says?
Is it public information or been officially revealed by his estate?

Correct.

"Jody Allen is the executor of the Microsoft co-founder’s will as trustee of the Paul G. Allen Trust, which was started in 1993. As an executor, Allen is legally obligated to fulfill her brother’s wishes, which include selling the two most popular assets of his estate, with proceeds going to philanthropic efforts. Paul Allen died in 2018."

Seahawks, Blazers to be Sold by Allen Trust Within ‘10 to 20’ Years

Any rumors about an imminent sale of the Seattle Seahawks or Portland Trail Blazers were shut down on Tuesday. That’s after Jody Allen, sister of the late Seahawks owner Paul Allen, released a statement saying neither franchise is on the market and that “sale discussions” are not happening. For...

sports.yahoo.com

 

[BlueTalon]

Is there anything preventing Jody from buying the team herself?

 

[SantaClaraHawk]

Is there anything preventing Jody from buying the team herself?

She could only do so by doing the same as what Bezos or whomever will, which is offer ths going price for the Hawks.

 

[nanomoz]

Is there anything preventing Jody from buying the team herself?

That'd be rad.

 

[TheLegendOfBoom]

That'd be rad.

I’ve been made aware by some colleagues that Jody Allen has no interest in outright purchasing the team herself.

Her passions do not include professional sports.

Of course, never say never.

But I do not expect Jody to keep the Seahawks.

The team will be sold and I don’t think Jody Allen will buy it herself…

 

[keasley45]

Didn't Jody address the sale issue last year, stating that there are no plans to address future ownership anytime soon and that realistically, the process could take closer to 10 years given the complexity of his estate and the requirements to even prep an NFL franchise for sale in the first place.

This is just Florio trying to look like the guy with the crystal ball.

 

[Lagartixa]

Didn't Jody address the sale issue last year, stating that there are no plans to address future ownership anytime soon and that realistically, the process could take closer to 10 years given the complexity of his estate and the requirements to even prep an NFL franchise for sale in the first place.

This is just Florio trying to look like the guy with the crystal ball.

In Jody Allen's own words,

As we've stated before, neither of the teams is for sale and there are no sales discussions happening.
A time will come when that changes given Paul's plans to dedicate the vast majority of his wealth to philanthropy, but estates of this size and complexity can take ten to 20 years to wind down. There is no pre-ordained timeline by which the teams must be sold.
Until then, my focus -- and that of our teams -- is on winning.

That's from July of last year:

Seahawks chair Jody Allen says team is not for sale right now

Jody Allen, chair of the Seattle Seahawks and trustee of the Paul G. Allen Trust, said in a statement released Tuesday by the team that neither the Seahawks nor the NBA's Portland Trail Blazers, which the Allen Trust owns as well, are currently up for sal

www.nfl.com

 

[jammerhawk]

I suppose that in time the team will be eventually sold from the Allan family trust, but Florio is dreaming that the family trust would give up 10% of the Sale price to the City of Seattle to do so with the timing he suggests. More BS from Florio,wilthout any basis in fact.

 

[kidhawk]

I suppose that in time the team will be eventually sold from the Allan family trust, but Florio is dreaming that the family trust would give up 10% of the Saale price to the City of Seattle to do so with the timing he suggests. More BS from Florio,wilthout any basis in fact.

I may have misread what he wrote, but I believe he was saying that they might sell after the expiration of the 10% clause which could be as early as next May.

Either way, the selling portion is just speculation, as is who we may or may not draft. In Pete and John I may trust to run the Seahawks, but I don't trust anything they say or hint about the draft. The only way we can have any certainty is if Carolina comes out and says they are taking Young (as they are expected to do). Anything else is speculation, and speculation will only run higher as these final pre draft days pass by.

 

[Jazzhawk]

There is no timetable on WHEN the team has to be sold to fulfill philanthropic goals.

 

[pmedic920]

There is no timetable on WHEN the team has to be sold to fulfill philanthropic goals.

That’s the question I was asking up thread.

Is the sale mandated by PA’s will?

I may have misunderstood by it appeared to me that the person that responded thinks it is written into the will.

 

[SantaClaraHawk]

Executors aren’t put in that role to get rich off the proceeds. They are there to disburse the assets as to the wishes of the deceased.

Jody holding on to a franchise that’s now doubled at least since Paul’s death could be seen as a good decision in Paul’s ultimate interest of philanthropy.