Phil Knight is not interested in purchasing the Portland Trail Blazers as the franchise enters the open market. The Nike co-founder previously expressed interest in buying the Blazers following the death of Paul Allen in 2018. Jody Allen rebuffed Knight’s offer to buy the Blazers for more than $2 billion in 2022.
“Five years ago, when I was a younger man, I had a great interest in being a part of the Portland Trail Blazers franchise. However, at my current age, I can confirm that I no longer have interest in acquiring the team,” Knight, 87, said in a statement via Nike.
Allen’s estate said in its announcement that the sale of the Blazers is consistent with Allen’s “directive to eventually sell his sports holdings and direct all estate proceeds to philanthropy.”
CNBC earlier this year valued the Trail Blazers at $3.65 billion.
