The Portland Trail Blazers are officially on the market.
Seven years on from the death of team owner Paul Allen - who entrusted his sister Jody Allen as the chair of the Trail Blazers - his estate announced Wednesday (AEST) that they have begun the process of selling the team, directing all proceeds to philanthropic endeavours as per his wishes.
A co-founder in Microsoft, Allen purchased the team in 1988 for $70 million. In addition to the NBA franchise, his estate holds a 25 percent stake in the Seattle Seahawks NFL team as well as being co-owner of MLS franchise the Seattle Sounders. Neither of those ownership stakes are up for sale, according to a statement issued by his estate.
— Portland Trail Blazers (@trailblazers) May 13, 2025
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The sale of the team "which is estimated to continue into the 2025-26 basketball season," has no concrete bidders as yet, however Nike founder Phil Knight, 87, has reportedly had significant interest in purchasing the team in recent years.
Is Nike founder Phil Knight buying the Blazers?
Knight's interest in the Blazers stems from a 2022 bid from the footwear mogul, when he reportedly offered over $2 billion as part of an ownership group including Los Angeles Dodgers part-owner Alan Smolinksy.
After the Blazers rejected the offer, the group attempted to buy the team again in 2023, an offer which was also rebuffed by Allen's estate.
But while the team is now up for sale, it appears that Knight's interest in purchasing the team has diminished.
"Five years ago, when I was a younger man, I had a great interest in being a part of the Portland Trail Blazers franchise." Knight said in a statement given to The Athletic.
"However, at my current age, I can confirm that I no longer have interest in acquiring the team."
How much are the Trail Blazers worth?
In October, 2024, Forbes valued the Trail Blazers at $3.5 billion. That figure ranks the team 24th among the 30 NBA franchises.
It's unclear how much Allen's estate is looking to sell for.
The Boston Celtics were recently sold to private equity executive Bill Chisholm for $6.1 billion, while the Phoenix Suns were purchased by Matt Ishbia for $4 billion in 2023. Meanwhile, longtime Dallas Mavericks owner Mark Cuban sold his majority stake in the team for $3.5 billion, with Forbes valuing the Mavericks at $4.7 billion.
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