New Delhi, July 12 -- SEATTLE - The estate of Paul G. Allen has agreed to sell the Seattle Seahawks to a family ownership group led by Vinod Khosla, the Indian-born Silicon Valley billionaire who co-founded Sun Microsystems and helped define the commercial internet's first decade. The price, $9.612 billion according to people familiar with the terms, shatters the previous record for any professional sports franchise and announces technology wealth as the new currency of NFL ownership.

The deal was confirmed Friday by the Allen estate in a brief statement. Khosla, 70, said his family was "honored to be entrusted as the next stewards of the Seattle Seahawks" and looked forward to "building on the winning legacy Paul Allen created." Whether...