What happened: Vinod Khosla's family has agreed to purchase Seattle's NFL franchise for $9.612 billion, according to a source cited by the Associated Press. The agreement follows earlier reporting that a Khosla-led group struck the deal, with Neeru Khosla set to serve as the team's controlling owner.
Why it matters: The $9.612 billion price is a record for an NFL franchise, arriving as the same Khosla family must divest Vinod's 49ers limited-partner stake to satisfy league cross-ownership rules. Keeping the franchise in family hands tracks with late owner Paul Allen's stated wishes for local stewardship.
By the numbers: The $9.612 billion price is nearly 50 times what Paul Allen paid to buy the team in 1997.
What to watch: NFL owners still need to formally approve the transaction before the sale is complete.