Billionaire Vinod Khosla, a recent investor in the San Francisco 49ers, is prepping a bid to buy the Super Bowl-champion Seattle Seahawks, according to multiple people familiar with the plans.
The co-founder of Sun Microsystems and a prominent VC investor, Khosla recently submitted a letter of intent as part of the process, said the people, who were granted anonymity because the details are private. He is worth about $14.5 billion, according to Forbes.
Khosla didn’t immediately respond to an email seeking comment. A rep for Allen & Company, which was retained to handle the sale, declined to comment. A representative for the Seahawks said in an email Wednesday night there was “no news to share” about the process.
Sportico also reported Thursday that Indian steel magnate Aditya Mittal and former Boston Celtics control owner Wyc Grousbeck were teaming up for a bid. The Seahawks are worth $6.59 billion, according to Sportico, but the team is expected to sell for quite a bit more.
Khosla was one of a handful of local investors who bought into the 49ers last year at a valuation higher than $8.5 billion. Sportico reported then that Khosla bought the biggest stake of the trio, though the specifics were not available.
It’s become common for new NFL owners to be existing LPs in 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 in the Pittsburgh Steelers. So was Josh Harris, who bought the Washington Commanders in 2023. Harris’ Commanders group included longtime business partner David Blitzer, who was yet another Steelers LP. If successful with his bid to buy the Seahawks, Khosla would need to sell his 49ers equity.
Khosla was born in India and came to the U.S. in his early 20s. He earned an MBA from Stanford and co-founded Sun Microsystems in 1982, serving as the tech company’s first CEO. His VC career started at Kleiner Perkins, and he launched Khosla Ventures in 2004. His firm’s notable exits include Affirm, Opendoor and DoorDash, all of which went public.
New NFL owners are heavily restricted in how their financing can come together. There is a $1.5 billion debt limit, and the control owner must hold 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 the estate of late owner Paul Allen, who died 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, the executor of his will and trust, has run the teams in his absence. The Trail Blazers were recently sold for $4.1 billion to a group led by Tom Dundon.
The most expensive NFL team ever purchased in a control sale is the Commanders ($6.05 billion), while the Los Angeles Lakers are the most expensive sports team ever sold in a control sale ($10 billion). A minority stake in the parent company of the Miami Dolphins recently sold to a Chinese-American billionaire at a $12.5 billion valuation.
