Todd Boehly, the $7.2B net-worth financier who bought Chelsea for $5.25B in 2022, has expressed interest in bidding for the Seattle Seahawks, according to Semafor's reporting. No formal offer has been submitted. The Seahawks are controlled by Jody Allen, who inherited the team and the Portland Trail Blazers after her brother Paul Allen's 2018 death. She has not publicly declared a sale process, but league and financial circles have treated one as inevitable since late 2023.
The franchise last changed hands in 1997, when Paul Allen paid $194M. Forbes pegs current valuation at $6.93B, though recent private equity stakes in NFL teams—Apollo's $600M investment in the Washington Commanders at a $6.05B valuation, Arctos's $200M piece of the Buffalo Bills—suggest top-tier franchises now command $7B to $8B on a control basis. Seattle's television market ranks 12th nationally, its fan base skews younger and wealthier than league average, and Lumen Field has 20 years of remaining public subsidy baked in. The Seahawks' operating income was $174M in 2023, ahead of 22 other clubs.
Boehly's interest matters because he represents a new archetype in sports ownership: the portfolio collector with access to sovereign and pension capital. His Eldridge Industries has stakes in the Los Angeles Dodgers, the Lakers, the Sparks, and now Chelsea. He raised $2.5B in equity for the Chelsea bid from Clearlake Capital and a circle of family offices that included Hansjörg Wyss and Mark Walter. That same network could theoretically mobilize $3B to $4B in equity for a Seahawks bid, leaving $3B to $4B in NFL-approved debt. The league allows $1.2B in traditional debt per team, but has been quietly approving private equity stakes at the 10% level since August 2024, effectively creating a second layer of leverage. Apollo, Arctos, and Sixth Street have each deployed $1B+ into the NFL in the past nine months. Boehly knows all three.
The timing is not accidental. Jody Allen has been liquidating Paul Allen's estate for six years, selling the Trail Blazers for $2B in 2023 and shedding real estate and venture positions. She has no children, no public attachment to Seattle sports culture, and a $30B+ philanthropic foundation to fund. The Seahawks are the last major asset. She is 65. Estate planning does not wait.
Watch for three events. First, whether Boehly's Eldridge files a formal expression of interest with Allen's advisors at Goldman Sachs, who have been on retainer since 2022. Second, whether competing billionaires—Jeff Bezos has been mentioned, though Amazon's NFL broadcast deal complicates league approval—surface in the next 90 days. Third, whether the NFL's finance committee accelerates private equity rule changes in May, ahead of the league's spring meetings, to accommodate larger minority stakes. Boehly's Chelsea deal took 88 days from exclusivity to close. An NFL sale takes twice that, minimum.
The Seahawks have not had an ownership meeting in 18 months. That changes the week a bidder wires a deposit.
The takeaway
Boehly's Seahawks interest tests whether NFL franchises now trade like institutional assets—**$7B** entry, PE co-investors, sovereign LPs.
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