Tech billionaire Vinod Khosla and his family have reached a deal to buy the Seattle Seahawks for $9.6 billion, according to people familiar with the details, as reported. VarietyThe sports news half-brother, Sportico.

The deal marks one of the highest valuations ever obtained by a sports team in a control transaction, approaching the $10 billion price tag of Mark Walter’s purchase of the NBA’s Los Angeles Lakers. Khosla, an Indian-born and prominent venture capitalist, is worth approximately $13.7 billion, according to Forbes. He is purchasing the defending Super Bowl champions from the estate of late owner Paul Allen.

Khosla’s group beat out a handful of other bidders, including a group led by billionaire Aditya Mittal, a member of one of India’s richest families, said the people, who were granted anonymity because the details are private. Sportico first reported Khosla’s interest in May.

Khosla’s wife, Neeru Khosla, will be the controlling owner of the team, according to a memo the NFL sent to its clubs on Saturday. Neeru Khosla is co-founder and president of the CK12 Foundation, a non-profit educational organization. His son Neal Khosla, CEO of Curai, will also have a leadership role in the team, according to the memo, a copy of which was seen by Sportico.

It is not immediately clear how the deal is being financed. Khosla did not immediately respond to an email seeking comment. Allen’s estate said in a statement Saturday that the team had been sold to the Khosla family and included a quote from Khosla himself. The statement did not provide any details about the structure of the deal or financing, but said Khoslas would be the new owner of control of the team.

The Seahawks are worth $6.59 billion, according to Sportico’s figures from last year, but the team was always expected to sell for significantly more than that. It’s relatively rare for NFL teams to sell (this is just the third to formally hit the market in the last decade), and the league’s structure virtually guarantees that each team makes nine-figure profits annually.

Khosla, co-founder of Sun Microsystems, was one of the few local investors who bought shares of the San Francisco 49ers last year at a valuation of more than $8.5 billion. Sportico reported at the time that Khosla bought the largest stake, although details were not available.

It has become common for new NFL owners to be existing LPs at other franchises, a process that gives them familiarity with the league, and vice versa. Billionaire David Tepper, who bought the Carolina Panthers in 2018, was a minority owner of the Pittsburgh Steelers. So was Josh Harris, who purchased the Washington Commanders in 2023. Harris’ Commanders group included his former business partner David Blitzer, who was also a Steelers LP. Khosla will need to sell his 49ers equity if the deal with the Seahawks closes.

Khosla came to the United States when he was in his early 20s. He earned an MBA from Stanford and co-founded Sun Microsystems in 1982, serving as the technology company’s first CEO. His venture capital career began at Kleiner Perkins and he launched Khosla Ventures in 2004. Notable exits from his firm include Affirm, Opendoor, and DoorDash, which all went public.

The new NFL owners are very restricted in how their financing can be pooled. There is a debt limit of $1.5 billion and the controlling owner must own a minimum of 30% of the equity. Institutional funds can own 10% and the total group cannot exceed 24 minority owners.

The Seahawks are being sold by Allen’s heirs, who assumed ownership after his death in 2018. Allen’s will called for his sports assets, which included the Seahawks and the NBA’s Portland Trail Blazers, to be sold to benefit charitable causes. His sister Jody Allen, executor of his will and trust, has led the teams in his absence. The Trail Blazers were recently sold for $4.1 billion to a group led by Tom Dundon.

To date, the most expensive NFL team ever acquired in a control sale is the Commanders ($6.05 billion), while the Los Angeles Lakers are the most expensive sports team acquired in a control sale ($10 billion). A minority stake in the parent company of the Miami Dolphins was recently sold to a Chinese billionaire for a valuation of $12.5 billion.

Mittal previously contributed around $1 billion to the acquisition of the Boston Celtics in 2025, his first major move into American sports. His Seahawks offer group included former Celtics controlling owner Wyc Grousbeck, Sportico previously reported.

Latham & Watkins served as legal counsel to the Allen estate in the transaction.

(Pictured: Seattle Seahawks wide receiver Cooper Kupp on February 8 at Super Bowl 2026 held at Levi’s Stadium in Santa Clara, California.)