NFL owners have approved the $9.612bn sale of the reigning Super Bowl champions Seattle Seahawks to a group led by billionaire Vinod Khosla. The deal is a record for an NFL franchise and reflects the rapidly rising value of major North American sports teams, while ending the Allen family’s long ownership of the club.

The sale, agreed with Paul G. Allen’s estate in July, required support from at least 24 of the NFL’s 32 owners and exceeds the Washington Commanders’ $6.05bn sale in 2023. Khosla, co-founder of Sun Microsystems and founder of Khosla Ventures, must give up his minority stake in the San Francisco 49ers; he said his aim is to maintain Seattle’s success through a long-term approach. Paul Allen bought the Seahawks in 1997, preventing a possible relocation, and the team reached the play-offs 17 times and contested four Super Bowls during the Allen family’s 29 seasons in charge.