Key NFL Committees Clear Way for $9.6 Billion Seahawks Sale

The NFL's finance and ownership policy committees unanimously recommended Wednesday to approve the record-breaking $9.612 billion sale of the Seahawks from Paul G. Allen's estate to a group led by Vinod Khosla's family. The NFL notified teams on Thursday of the unanimous recommendation, virtually ensuring the sale's ratification at the full owners' meeting in Atlanta next Wednesday.

The deal is projected to close in September, according to sources familiar with the matter. Khosla's group had previously agreed to buy the Seahawks from Allen's estate. The bidding competition also included a group led by Aditya Mittal and Wyc Grousbeck, both of whom are familiar names in sports. Mittal, a CEO of ArcelorMittal and son of its executive chairman, Lakshmi Mittal, is also a minority owner of the Celtics.

Grousbeck, a former Celtics governor, is part of the same group. Khosla, 71, co-founded Sun Microsystems and founded Khosla Ventures, with an estimated net worth of $13.3 billion, per Forbes. If the deal is approved, Khosla's wife Neeru would become the controlling owner of the Seahawks, with their son Neal expected to have a significant leadership role, according to the NFL.

The Khosla family currently holds a minority stake in the 49ers and would need to divest that interest at some point. NFL ownership rules require the primary owner to hold at least a 30% stake, with the investment group limited to a maximum of 25 members.