What's Going To Happen To The Teams Paul Allen Owned?

By on October 22, 2018 in ArticlesSports News

Paul Allen died earlier this week from complications of non-Hodgkin's lymphoma at age 65. The Microsoft co-founder was the majority owner of the NFL's Seattle Seahawks and the NBA's Portland Trailblazers. He also was part owner of the Seattle Sounders in the MLS.

Allen's death leaves professional sports in an unusual situation: two teams will be for sale at the same time.

The franchises will likely be sold with proceeds going to Allen's philanthropic efforts. He wasn't married and had no kids. His sister also had minimal involvement with either team.

The chance to enter either the NBA or the NFL is enticing, so expect plenty of billionaires to show interest. A piece of the NFL offers the most popular league in terms of viewership; a spot in the NBA opens up a global market.

Steve Dykes/Getty Images

After co-founding Microsoft, Allen formed Vulcan in 1986 as his major investment avenue. Primarily focusing on the space and real estate industries, Allen watched his money grow. In 2010, he signed the Giving Pledge to dedicate most of his fortune to philanthropy, like cancer research and wildlife conservation.

Compared to now, Allen scored a great deal when he purchased the teams. He spent around $70 million for the Trailblazers in 1988 and about $174 million for the Seahawks in 1997.

Whoever ends up buying the Seahawks or Trailblazers, they'll be paying a premium for them. The Seahawks are worth $2.1 billion, while the Trailblazers are right around $1 billion.

Still, there's plenty of opportunity in both leagues. Expect to see a mad dash to get a piece of either team.

Articles Written by Joey Held
If there's a story anywhere in the world of music, sports, or entertainment, Joey wants to tell it. He's been freelancing since 2010, and prior to that, he attended the University of Miami, where he double majored in broadcast journalism and sport administration. A Chicago native, Joey currently resides in Austin, TX. Follow him on Twitter and always feel free to suggest a song for his next karaoke performance. Joey's favorite billionaire is Mark Cuban.
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