Seahawks owner Allen made stipulations for future sale of team: Report

La Canfora reported that Allen set up a trust account to keep the Seahawks operational until the franchise changes hands.

Seattle Seahawks owner Paul Allen's estate plan spells out what will happen with his sports franchises since he has no heirs, and that likely includes selling his football team to a buyer who will keep it in the region, according to a report.

Allen, 65, passed away Monday due to complications of non-Hodgkin lymphoma. The co-founder of Microsoft, he also owned the Portland Trail Blazers and a 20 per cent stake in the Seattle Sounders.

CBS Sports's Jason La Canfora reported Sunday that Allen, who wasn't married and had no children, had stipulated what he wanted to happen with his franchises. He reported that league sources said an eventual sale of the team likely would require that any group or individual wanting to buy the team keep it in the region, just as Buffalo Bills owner Ralph Wilson had required upon his death.

Allen was born and raised in Seattle.

La Canfora reported that Allen set up a trust account to keep the Seahawks operational until the franchise changes hands.

There has been plenty of speculation about who could buy the Seahawks, which Forbes last week estimated would sell for about $2.6 billion. That would be the record for an American sports franchise.

No one has rushed forward to express publicly an interest in buying the team, but Dallas Cowboys owner Jerry Jones last week nominated another Seattle resident, Amazon CEO Jeff Bezos. Forbes named Bezos the richest person in America earlier this month, estimating his net worth at $160 billion.

"Someone like that," Jones said of Bezos. "I'd carry him piggyback to get him to the NFL."

Forbes also estimated that the NBA's Trail Blazers will sell for about $1.3 billion, while Allen's 20 per cent stake in the Sounders of Major League Soccer could bring about $60 million.

Allen purchased the Trail Blazers for $70 million in 1988 and the Seahawks nine years later for $194 million. He was one of the founders of the Sounders in 2007.

A big reason the Seahawks and the Sounders would command such relatively high valuations is that they play in CenturyLink Field, which is operated by Allen's First and Goal Inc. Controlling the revenue and expenses of stadiums gives owners a huge advantage when it comes to selling sponsorships and premium seating. Having two teams in one building provides scale and reduces overhead.

Likewise, the Trail Blazers play in the Rose Quarter, a district owned by an affiliate of the team and managed by Allen's Rip City Management. The $1.3 billion price tag for the Trail Blazers includes the NBA team and its arena, the Moda Center. But the Rose Quarter also includes the 12,000-seat Veterans Memorial Coliseum, the 6,500-seat Theater of the Clouds, the 40,000-square-foot Exhibit Hall and the Rose Quarter Commons. The other assets would add substantially more to the price.

(With inputs from agencies.)