What happened: A group led by Vinod Khosla has agreed to purchase the Seattle Seahawks for $9.612 billion, according to an AP source, corroborating the figure first reported by ESPN's Adam Schefter. The deal

Why it matters: The price is nearly 50 times what Paul Allen paid for the franchise in 1997, underscoring how far NFL franchise valuations have climbed. Khosla, a limited partner in the San Francisco 49ers, must divest that stake to clear the league's cross-ownership rules before completing the purchase, as the same Khosla group cleared for the Seahawks bid already has to work through.

What to watch: NFL owners are scheduled to vote on ratifying the sale August 26.