The estate of late Microsoft co-founder Paul Allen has put the NBA’s Portland Trail Blazers up for sale.
The Pacific Northwest’s NBA franchise is set to blaze a new trail.
The estate of late Microsoft co-founder Paul Allen announced its intentions to sell the Portland Trail Blazers franchise. A statement from the team noted that the transaction is “consistent with Allen’s directive to eventually sell his sports holdings and direct all estate proceeds to philanthropy” but that neither the NFL’s Seattle Seahawks nor MLS’ Seattle Sounders are included in the deal or up for sale.
Allen purchased the Trail Blazers for $70 million from real estate mogul Larry Weinberg in 1988. Under his watch, the Blazers reached the NBA Finals twice (1990, 1992) and opened Moda Center, then known as the Rose Garden, seven years after his purchase.
Since Allen’s passing in 2018, the team has been managed by Seattle-based Vulcan Sports and Entertainment with his sister Jody serving as chairman. Vulcan also owns Moda Center after Allen purchased the arena in 2007.
A study from CNBC released in February valued the Blazers at $3.65 billion, placing 22nd among the NBA’s 30 teams. ESPN’s Brian Windhorst listed Portland-based billionaire Phil Knight as a potential buyer after he previously made an attempt to purchase the team in 2022. Knight, 87, is best-known as the co-founder of renowned athletic brand Nike and is also noted for his large donations to his alma mater, the University of Oregon.
The Blazers (36-46) have missed the last four editions of the NBA Playoffs but made enough progress to extend the contracts of both head coach Chauncey Billups and general manager Joe Cronin. Though the Blazers dropped a spot on the upcoming draft board, the teams has inched forward in the right direction thanks to the homegrown talents of rising stars Toumani Camara, Scoot Henderson, Shaedon Sharpe, and Anfernee Simons.
Geoff Magliocchetti is on X @GeoffJMags
