One of NBA’s smallest teams for sale as fans fear Seattle relocation and beg Nike founder worth $30bn to save franchise
It is never a quiet day in the NBA. Coming off the heels of the Dallas Mavericks winning the draft lottery and Boston Celtics star Jayson Tatum going down with a serious injury, one of the league’s franchises has just been announced for sale. The Portland Trail Blazers are up for saleGetty The Portland Trail Blazers are now on the market. “The estate of Paul G. Allen today announced it has commenced a formal sales process for the Portland Trail Blazers franchise, consistent with Allen’s directive to eventually sell his sports holdings and direct all estate proceeds to philanthropy,” the team’s official statement read. “The estate has selected investment bank Allen & Company and law firm Hogan Lovells to lead the sales process, which is estimated to continue into the 2025-26 basketball season. “The NBA board of governors must then ratify a final purchase agreement. “This news does not affect the Seattle Seahawks NFL franchise or the estate’s 25% interest in the Seattle Sounders MLS, and neither is for sale.” Paul Allen, co-founder of Microsoft, owned the Trail Blazers at the time of his death in October of 2018. He had a $20.3 billion net worth. His sister, Jody Allen, inherited the team after his death. The Portland franchise currently ranks 24th in terms of value, at $3.5 billion, but will likely sell for much more than that, given the most recent sale of an NBA franchise, which was the Celtics. The storied Boston franchise just sold for a record high, $6.1 billion. Knight is one of the richest people in the worldGetty Of course, the Celtics are one of the most popular franchises in the country, and the Blazers are not, but the sale could still rival that of the Celtics, given the demand. The announcement today left Portland fans worried for their future, as murmurs of possible relocation have begun to swirl. Most notable, moving the team to Seattle. A popular name to buy the franchise, and keep it in Portland, is Nike founder, Phil Knight. The 87-year-old has a net worth of nearly $30 billion and would “easily” be able to add the Blazers to his portfolio if he so desires. Knight helped bring Michael Jordan to Nike and has long held NBA ties.
It is never a quiet day in the NBA.
Coming off the heels of the Dallas Mavericks winning the draft lottery and Boston Celtics star Jayson Tatum going down with a serious injury, one of the league’s franchises has just been announced for sale.
The Portland Trail Blazers are now on the market.
“The estate of Paul G. Allen today announced it has commenced a formal sales process for the Portland Trail Blazers franchise, consistent with Allen’s directive to eventually sell his sports holdings and direct all estate proceeds to philanthropy,” the team’s official statement read.
“The estate has selected investment bank Allen & Company and law firm Hogan Lovells to lead the sales process, which is estimated to continue into the 2025-26 basketball season.
“The NBA board of governors must then ratify a final purchase agreement.
“This news does not affect the Seattle Seahawks NFL franchise or the estate’s 25% interest in the Seattle Sounders MLS, and neither is for sale.”
Paul Allen, co-founder of Microsoft, owned the Trail Blazers at the time of his death in October of 2018.
He had a $20.3 billion net worth.
His sister, Jody Allen, inherited the team after his death.
The Portland franchise currently ranks 24th in terms of value, at $3.5 billion, but will likely sell for much more than that, given the most recent sale of an NBA franchise, which was the Celtics.
The storied Boston franchise just sold for a record high, $6.1 billion.
Of course, the Celtics are one of the most popular franchises in the country, and the Blazers are not, but the sale could still rival that of the Celtics, given the demand.
The announcement today left Portland fans worried for their future, as murmurs of possible relocation have begun to swirl.
Most notable, moving the team to Seattle.
A popular name to buy the franchise, and keep it in Portland, is Nike founder, Phil Knight.
The 87-year-old has a net worth of nearly $30 billion and would “easily” be able to add the Blazers to his portfolio if he so desires.
Knight helped bring Michael Jordan to Nike and has long held NBA ties.
