What happened: Sources tell ESPN that a group led by Vinod Khosla, a limited partner of the San Francisco 49ers, has agreed to purchase the Seattle Seahawks for $9.6 billion. The figure marks a record sale price for an NFL franchise.

Why it matters: The agreement caps years of uncertainty over the Seahawks' ownership future and resets the valuation bar for the league's franchises. It follows an NFL memo formalizing the sale to all 32 teams, with owners set to vote on ratification next month.

What to watch: NFL owners hold a special meeting Aug. 26 to vote on ratifying the sale.