The Seattle Seahawks have officially entered a new era after the NFL approved Vinod Khosla’s $9.6 billion purchase of the franchise, the most expensive sale in league history. Khosla and his family now lead the ownership group, taking over from the Paul Allen estate after NFL owners unanimously approved the deal on August 26. But Khosla is not the only name attached to the record-breaking acquisition.

The new ownership group includes 12 limited partners who will hold minority stakes in the Seahawks. Sports Business Journal’s Ben Fischer reported the full list of 12 limited partners who joined the Khoslas in the purchase, bringing together investors with backgrounds across technology, finance and professional sports. 

The list features several investors with existing connections to the business and sports worlds. Former Sequoia Capital managing partner Mark Stevens, who already owns a limited stake in the Golden State Warriors, is among them. The Aramburuzabala family also appears on the list. The family’s most prominent member, María Asunción Aramburuzabala, is the founder of Tesalia Capital and a descendant of the family behind Grupo Modelo, the brewer of Corona, Pacifico and Modelo.

Fischer noted that the investors did not disclose their individual stake sizes. However, the list is arranged in descending order based on the size of each LP’s stake, with investors holding equal stakes listed alphabetically.

The ownership group also includes Val Blavatnik, the son of DAZN owner Len Blavatnik, and Samir Kaul, managing director of Khosla Ventures. Investment firm Sixth Street and the Carlyle Group-Dynasty Equity partnership each hold a 3% stake in the Seahawks, figures that had been reported previously.

Sixth Street’s Josh Empson, partner and co-head of sports, media and entertainment, welcomed the opportunity to join the group.

“We are honored to have the opportunity to be a part of supporting the team’s continued success and building on our ongoing partnership with the NFL,” said Empson.

Sixth Street brings more than capital to the Seahawks ownership group, having built a portfolio across several major sports properties. The firm is part of the ownership group that acquired control of the Boston Celtics in a deal valued at $6.1 billion and also has investments in the San Francisco Giants, New England Patriots, San Antonio Spurs and Bay FC, the NWSL club it co-founded. Its sports portfolio also extends to Europe, with investments in Real Madrid and FC Barcelona.

Carlyle’s involvement also comes shortly after the firm agreed to finance a planned theme park, water park and future on-site resort at Circuit of The Americas through its Global Credit platform. Meanwhile, the Seahawks ownership story could still have another twist. The Khosla-led group had reportedly considered bringing in investors from the consortium it defeated in the bidding process, although there has been no update on whether any of them ultimately joined the group.

The possibility of adding members of the losing consortium had emerged soon after the deal was agreed. FOS reported that the Khosla-led group could bring in investors from the runner-up bid, which was led by Aditya Mittal and Wyc Grousbeck. Mittal is the CEO of ArcelorMittal and the son of executive chairman Lakshmi Mittal. However, there has been no update on whether either Mittal or Grousbeck ultimately showed interest in joining the Seahawks ownership group.

With the ownership group now taking shape, Andalusian Sports Advisors advised the Khosla family and the new investors on the transaction. The 12 limited partners also bring their own connections to Seattle, and one of them has gone so far as to call himself the city’s “fan No. 1.” That investor is Sunny Gupta, whose connection to the Seahawks runs much deeper than his new stake in the team.

For Sunny Gupta, owning the Seahawks is a dream come true 

In Pacific Northwest tech circles, Gupta is best known for co-founding Bellevue-based enterprise software company Apptio, where he previously served as CEO. He steered the company through an IPO, a private equity acquisition and its eventual $4.6 billion sale to IBM in 2023.

His connection to the Seahawks, however, is far more personal. Unlike Vinod Khosla, who landed in hot water after revealing that he had been a Pittsburgh Steelers fan, Gupta has spent years openly embracing Seattle and its team. For him, becoming part of the Seahawks ownership group is not simply another investment.

“I would have never considered investing or being in ownership in sports other than the Seahawks,” Gupta told GeekWire in an interview following Thursday’s announcement. “This is a dream come true of something I love so much. The city I love so much, fan base, the team. I’m the 12th man. I want to represent that as a part of the ownership group.”

While Gupta and Khosla have never directly worked together on a startup, they have crossed paths several times over the years.

Gupta has raised funding for four startups during his career, and Khosla Ventures was among the firms that entrepreneurs in his circle hoped to work with. The Seahawks investment has now given Gupta an opportunity to bring that long-standing interest in Khosla’s firm closer to home.

Under the reported 30% ownership limit for the Khosla family, the math puts the family’s contribution at $2.88 billion of the $9.6 billion purchase. The remaining $6.72 billion would be covered by the limited partners, making the newly revealed investors a significant part of the record-setting acquisition.

The Seahawks enter the new ownership era as defending Super Bowl champions, leaving Khosla and his group with an immediate challenge: keep a championship team at the top while beginning a new chapter off the field.