What's Behind the 'Soft' #Seahawks Sale Market? 💰 | #SeattleSports

Added: 2026-05-11

[00:00:00]Let's start with uh where the Seahawks are at. Why you reported the the owners are saying that the market is soft.

[00:00:08]>> Why?

[00:00:11]>> I honestly think it's because I think it's two reasons. Well, three.

[00:00:17]And this is what I gathered in my reporting. I think the first thing is that um sports franchises are so valuable nowadays and are skyrocketing so high that the pool of buyers even among the ultra wealthy is severely limited. And so that's one thing and the second thing is the NFL part of that. Like the NFL has different ownership rules than the NBA has for instance. And you know, maybe that'll change, but right now there has to be a controlling owner who essentially has to put 30% down on the cost of a franchise.

[00:00:54]>> That's a lot of money.

[00:00:55]>> One person has to put 30% down.

[00:00:57]>> Yes. It can't be um I mean you could divide it between family, I think, but like it has to be a controlling owner.

[00:01:04]>> Okay. So just understand. So So in the case we've heard where Wick Geck and the the steel billionaire, I'm blanking on his name, get to ML. Thank you. They get together and they become a group.

[00:01:17]>> One of them needs to put and let's use 9 billion as a as a starting point. One of them needs to put nearly $3 billion down in or not both, not as a group. One person needs to put down three billion.

[00:01:32]>> Yeah. And then you have um you know the situation that that's just the entry.

[00:01:38]You know what I mean? That's just the bare minimum for owning the team. It's kind of like when you buy a house and then you realize, you know, hey, I got the house now, but you still have to take care of the yard. You still got to get the driveway cleared, whatever it might be. You have all these incillary costs. And in that in this spec specific case, one of the incillary costs as they're looking out there is the cost of a new stadium. And I think that shocked a lot of people when I >> when I wrote that in the story because obviously Seattle's got a great stadium and they have a great homefield advantage, but the stadiums that were built around that time and you can argue the pros and cons of an arms race as it goes to stadiums, but those are starting to come due where especially like you see in Denver, you know, they're looking at a new stadium and so it's not inconceivable that um the new owner could want a new stadium at some point and then you're that's a huge expense and a huge political fight. And so I think th I think those are the general reasons. We can go into them deeper. We can go into some other ones including a possible NBA franchise, but those are the main ones I think.

[00:02:50]>> Well, it's interesting. Uh let's let's start with the new stadium because I'm definitely in that group who said, "Wait, what?" And not questioning the reporting obviously, but it it shocked me of like I I anyone who's been to Lumen Field would tell you it's still a palace. It's great. the home field advantage, as you said, much like T-Mobile Next Door, they've done a great job of keeping it up and constantly evolving it and and adding more to it in order to >> like what what would a new stadium even have that that roof, >> a retractable roof? Like that >> that doesn't even seem like something they'd want necessarily. Like why why would that be a thing?

[00:03:34]Well, I think the roof could be, but I think it's just the I think a lot of it is the new revenue. And I think when you're a new owner, um, and you're paying all this money and, you know, you buy this team, um, you know, the NFL is obviously like they dis they distribute revenue.

[00:03:53]>> Only local revenue is separate and it's different. And a new stadium has the potential to bring in incillary and maybe even vast new revenue streams that you know the owners would mostly benefit from. And I think um that's it. And I do think that um a roof you can't rule it out. I mean I think that is the NFL is looking to expand host cities for Super Bowls, Seattle could certainly be in that mix.

[00:04:22]Now this is me opining. I don't have reporting on that, but um you know, I think that one of Denver's goals with a new stadium would be to host big events, including the Super Bowl, and I could see the same for Seattle, only they would probably want it covered.

[00:04:39]>> What do you think the timing is on this >> on a new stadium or the or change?

[00:04:44]>> Sorry. On the ownership, >> I don't know. I mean, the league thinks it's going to go well into the season, so I think um that's likely. um you know and I really think that um you're going to see a lot of names thrown around. I think that like obviously there was the Zuckerberg and Tim Cook um reporting that came out I think two weeks ago. I think that Tim Cook in particular um depending on the ownership group I could see a scenario or I think owners could see a scenario where maybe he becomes one of the limited partners um in a team not the primary owner. Um, but we'll see. I mean, you know, it's been a very atypical process. Let's just put it that way. I mean, you know, and you guys have lived that as much as anybody, but this has been an interesting process.

[00:05:32]And even though the league is expecting it to go into the fall and into the season, and I have no reason to doubt that timeline, um, you know, at some point they have to find someone who's going to own the team and, you know, at a price point that is almost certainly going to set a record for NFL franchises, but ultimately the Paul Allen estate has to agree to.

[00:05:54]>> Seth Wickersam with us, ESPN, a great investigative report. I mean, as good as it comes. Can can you help me with maybe my conspiracy theory here?

[00:06:03]>> Okay.

[00:06:04]>> Which is at the beginning of this process, we heard some really lofty numbers, 10 11 billion that maybe >> were not actually achievable. And so the league and owners in the league don't want to be embarrassed when this is all said and done. They don't want to underdel after overpromising.

[00:06:24]They would rather overd deliver after underpromising. cuz I don't believe like just knowing the climate here with the with the basketball team.

[00:06:33]>> Samantha Hollow is going to buy the basketball team. Nobody else has a chance to buy the basketball team because she owns the arena and she can charge whatever rent she wants to anybody else buying the team. Like she's going to buy the team and everybody knows that. So, I don't see how that could possibly be affecting this sale other than maybe some of the minority partners and and m maybe they thought she was going to b buy the the Seahawks, but I don't think that's ever really been talked about. Like, it feels like the NFL's trying to lower expectations here a little bit for a sale. That's my conspiracy theory.

[00:07:09]You know, I think that when people I I can't speak for every piece of reporting ever, but so conspiracy theories always kind of tickle me because um where people look for conspiracy, there's usually just human beings.

[00:07:23]And so like I know how the story came together and I know that it wasn't fed to me. Um it would have been so much easier if it were with, you know, some sort of agenda, you I mean, I think that like when you're reporting, um, you hear things and then you try to get more perspectives on it as best you can. Um, and then when you feel like you have it stone cold, you often circle back to people again to make sure you have it stone cold. So, if it was just something that was kind of leaked to me >> with the expectation of lowering, >> I'm sure that there's people who in the league office who who read it and thought that >> people on the banking side or other people were trying to feed it to me as an attempt to lower the price.

[00:08:09]>> Interesting.

[00:08:09]>> And neither are the case. I mean, I think I was just trying to give fans a realistic sense of where things are and the people that I spoke to, um, you know, for this story.

[00:08:23]I think the thing that's interesting is obviously that the 101 billion number is a mix of kind of sports insiders, business people, whatever it might be.

[00:08:31]And maybe they got a little excited when the franchise was put up for sale, but >> that's usually where it comes from. But it's also not completely crazy when you have the Miami Dolphins, which recently sold 10% to private equity, valued at 12 billion. And so, you know, I think that like a lot of these numbers are grounded in fact. And that's one of the reasons why I wanted to explain this situation because um you know, again, I thought it was interesting that it seems like that this process has softened um a little bit to the surprise of owners and executives around the league.

[00:09:11]>> Well, and I think to the surprise of everyone in Seattle, too. I mean like you know we've been of the belief uh that this is a crown jewel kind of >> franchise world champion >> exactly you have the infrastructure in place you know to continue winning like you look at the situation compared to what Josh Harris came into when he bought the the Washington commanders now obviously he's got the power of narrative right I mean he can be the one to fix the commanders but the narrative only holds true if you actually do that >> right >> whereas with the Seahawks you know, you're you're in you're you're buying a team that is, you know, phenomenally well-run, two-time world champion and the defending champion, got a great fan base, and you know, that was another reason why I thought it was kind of interesting.

[00:10:00]>> Well, how much is about the market?

[00:10:02]>> Yeah. What What is it? What is the market then? And I assume, Brock, you mean the market for just >> Seattle. Are we still South Alaska? Is that what this is, >> right? not not the market in general for teams, but how much of it is being out of the way? I mean, you could say DC had their problems, but you're in Washington DC, right, where all the power brokers are around the country.

[00:10:24]Like, >> is being in Seattle a limiting factor?

[00:10:29]>> I've heard that, but I didn't it was one of the reasons it was kind of tossed around, but I didn't include it in the story. um ultimately because I I didn't hear it enough and I think that really it's the price point like you know and I think in the other things that we talked about but I don't think that it's like you know look Seattle might be a long flight even on private jet but you know it's welcoming once you're there and so I I don't think that it's like a huge thing that Seattle's in the Pacific Northwest. Um, you know, I think that people at that price point usually figure out ways to make their life pretty efficient.

[00:11:07]>> Well, and they would know obviously that it's the home of Boeing and Starbucks and Costco and Amazon. I mean, like obviously they know all of the major companies that are here >> of the of and we're talking to Seth Wickersam of the owners of the names that have been come out over the last few days and weeks >> and maybe a few others that will come out. Do do any jump off the page to you as being most intriguing?

[00:11:34]>> Well, I think that the Boston Celtics group is going to be formidable. And then um there's a gentleman named Benode Kla who's in who's a limited partner of the 49ers. And I wouldn't rule him out.

[00:11:46]I think that like when you look at the access of people that he has connections to in the Bay Area in the sheer amount of wealth there, the ability to like Josh Harris did, you know, I mean, I don't think it would be I think Josh Harris has something like 19 limited partners if I remember right. I don't think it would be quite that many. But I do think that his ability to put together an appealing ownership group in which he and then possibly his son later on end up being the controlling owners in um that I wouldn't rule out.

[00:12:22]>> Well, and he also has some local connections here with the Akerly family who were involved with I think it's lead soccer >> uh who the NerS are involved with as well. So, that one becomes interesting.

[00:12:32]Why Why is Wick Gross interested in this? It seems interest like odd for a guy that is, you know, been in Boston, ran the Celtics. Why would Wick be interested in the Seahawks?

[00:12:44]>> I don't know. I mean, I haven't asked him personally, but I think that um it's it's just the power of the NFL right now. And I it's a good place to diversify if you're, you know, in that kind of um financial status. And, you know, then I think you're diversifying in a smart way. I mean, look, look, again, Seahawks are a good team. They are a good franchise. They have the important pieces in place, and those pieces are going to be in place for a long time. Um, and so maybe, you know, someone like him sees partnering with Mattel as, you know, something that can only bring upside.

[00:13:23]>> How about in the league now? I mean, who helps Power Broker decide all of this stuff? I mean, is it as simple as everyone, you know, submits a sealed bid and they choose? That doesn't feel right. That doesn't feel like the way the NFL operates. So, who behind the scenes helps make this happen?

[00:13:43]>> I mean, you have all these different parties. So, you not only have the buyers, you have the people representing them, you have the bankers in this case, you know, Allen and Co is obviously running the sale for the Seahawks, you have lawyers, and then you have league executives. And you know, I think that Roger had a little bit Roger Goodell had a little bit of an arms length from it in the past. It would surprise me greatly if he's not deeply involved in something like this. Um, you know, look, I think that Roger at some point will probably sign another contract. Um, I don't know if that will be his last or not. I would bet that it would be. And I think that like, you know, these are not only, you know, trying to do good business and trying to find good owners, but these are like legacy plays that I think he's trying to put in place. Um, and so, you know, I think that those are the group of people, but ultimately, you know, it comes down to the buyer, the Allen estate, >> and then you, you know, the fellow owners approving that person. And usually, you know, I I can't really see a scenario where it would come to a floor vote and, you know, it wouldn't get approved. I think that like um this isn't a contentious >> Yeah.

[00:14:59]>> Um this isn't a contentious bidding process. It's just a little softer than people thought it would be.

[00:15:04]>> Do you ever watch Billions the show?

[00:15:07]>> Yes. Off and on. I can't recall every single thing, but I I'm vaguely aware.

[00:15:11]There's a line in it that I've played on the show about a million times because it comes up every time we talk about this where Axe is trying to buy the Giants and he fails. They say, "No, we're not going to sell it to you." And they and he says something like >> sports ownership, especially in the NFL, is how we knight people in the in America. We don't have a knighting system like they do in England. So, you got to buy a sports franchise in order to be kned. And they're like, "We're not going to take you. You're robber Baron."

[00:15:36]And so, you're out. I don't know whether they still feel that way in professional sports now that private equity is as deeply involved as it was, but it it does feel like that's such a a part of the reason why some of these people want to be involved. A, you make a lot of money on it, and B, you get to be part of that club.

[00:15:54]>> Absolutely. And it's so interesting because the NFL in a lot of ways is the last, you know, landing spot of these things being kind of like familyrun businesses. I think that when people think about football teams, they think about these sprawling, you know, like the Microsoft campus or the Apple campus where, you know, there are these conglomerates when really a lot of them are kind of mom and pop operations and um I think that again um that >> eleion mom and pop operation sounds pretty good. Well, it's like that Seinfeld where um George says, you know, I knowing my mom and pop, I wouldn't want them running anything. But um you know it that kind of exists and I'm interested to see once you kind of see a big transition shift in the NFL to teams moving on to owners kids or bringing in new buyers, whatever it is, if they do decide to change their requirements for owners because I do think that um to make it more like the NBA, I I I think you're going to see something like that because these things have gotten so valuable that um There's only so many people who can buy them and there's only so many ways that the people who own them now can figure out ways to pass them on to their children without an inheritance tax that it seems like that almost nobody can afford in those circles either. That's a whole other discussion. But that's I I do think that that will be the interesting next frontier of ownership in the NFL >> where you know maybe the Bears aren't owned by the Macy family. Again, I'm speculating here but you maybe the Giants aren't owned by the Mars. Does that change? That's really interesting to me.

[00:17:39]>> Quickly, uh, and we'll let you go here, and I I do want you to talk for a minute about the book. The one big fear that you get from fans here, understandably, after the Sonics left is, is there any chance this sale leads to the Seahawks leaving Seattle?

[00:17:53]>> I don't, you know, I remember you asked me that last time, you know, when I broke the story about the team going up for sale after the Super Bowl. I I just, I cannot fathom it. I cannot fathom owners allowing it to happen either. and like where are they going to go and um what would that mean for everybody else?

[00:18:10]I just I cannot see that.

[00:18:12]>> I can't either. Makes no sense. But it is the thing that that does get asked quite a bit. All right. Tell me about >> there's a lot of there's a lot of scar tissue there.

[00:18:19]>> There is. That's for sure. Tell me about the book uh be on that hill. Explain.

[00:18:25]>> What is Be on that hill?

[00:18:27]>> Oh, you know, it's a line from one of my favorite Springsteen songs. It's in Darkness of the Edge of Town where at the end, you know, he's talking about I'll be on that hill. Um, the book is a collection of my ESPN work, which some Seahawks fans will rush out to buy and others will be, you know, maybe wait till the holidays, but it'll it'll it'll be out in September. I mean, seriously, when are we going to like do a debrief about the outrage to my Seahawk story in 17 and everything that Richard Sherman has said on >> We do it all the time.

[00:18:57]>> We do it all the time. You don't get to hear it all the time, but like on this show, your word is B. Like, everyone knows that what you said turned out to be 1,000% true, regardless of whether anybody wanted to hear it or not.

[00:19:12]>> Also, also 1% of what was actually going on.

[00:19:16]>> I wish I had had more, but that was, you know, >> because we've gotten to know Russ better in his departure, I think a lot of that has uh Yeah. been been Yes. We we need like an hourong podcast or you know you know session at at some point.

[00:19:30]>> We could probably make that happen.

[00:19:31]Yeah.

[00:19:33]>> But no, it's a collection of my ESPN work. I'm super happy about it. It's kind of a greatest hits and um you know it's one of those things that I think used to happen for a lot of writers and it's a lot happens a lot more seldom now. And so I'm really grateful that it's coming out and um maybe I'll do who knows maybe I'll do an event with with Brock at University of Washington so that he can wear his stuff. I can wear my tailgating hat and we can actually hear him.

[00:19:58]>> Let's do it.

[00:19:58]>> We'll see if we can work on technologically speaking, there's a that's a no chance. But other than our issues with technology, we'll try to make that happen. Seth, thank you for doing this. Uh we appreciate it. Always love your reporting. Even when there are people that don't want to hear it, we uh appreciate the work you do. And it's amazing how often it turns out to be true. Eventually, it just takes a little time for everyone to recognize it.

[00:20:20]Appreciate you. Thanks, man.

[00:20:22]>> My pleasure, man. Good to see you.

[00:20:23]>> All right. There you go. The great Seth Wicker sham.