An NFL team sells a minority stake at a $10B+ valuation by Dec 31 2026

The Seahawks just repriced the league. The Khosla group's $9.612B is the largest franchise transaction in NFL history, and every controlling owner above that line (Cowboys, Rams, 49ers, Eagles, Chiefs) now holds a marked-up asset. The reference class says slices trade. Five minority/PE deals closed in the two years since the August 2024 rule change, including Giants/Koch at $10B in September 2025. League-watchers expect 8-12 more over the next 18 months, and the estate-tax exemption sunset at the end of 2025 gives aging ownership families a dated reason to sell. 50%: at roughly half a deal a month, 4 months produces about 2 announcements, and the $10B filter keeps only the top of the market. The Seahawks print makes that filter easier to clear than it was in June.