Paul Allen Estate says Trail Blazer officially for sale for sale

The team officially offered the inheritance of the late Portland Trail Blazers owner Paul Allen for sale, whereby the proceeds go on philanthropic efforts, said the team on Tuesday.

Everyone died of cancer in 2018, and his will demanded that the franchise were sold “at some point”. NBA Commissioner Adam Silver had said several times in the past seven years. During this time, Allen’s sister Jody Allen was the organizer of the team as an executor of Paul Allen Trust.

As part of the announcement, the Trust said that the Seattle Seahawks of the NFL, which also owns the property, would not be part of the sale. It is also not the 25% participation in the Seattle Sunders of the MLS.

The Trust made the decision to sell the Blazer after several important developments last year. The NBA approved new eleven-year media law transactions with ESPN, NBC and Amazon for combined $ 77 billion. In 2024, the Blazer sold their home, the Moda Center, for 1 US dollar to the city of Portland and the country under the arena for $ 7 million. A public/private partnership was then introduced to renovate the arena and the surrounding area, which included a new rental agreement by 2030.

At the beginning of this year, the Boston Celtics sold for a record of 6.1 billion US dollars and increased all team values. Sportico recently estimated the Blazer with 3.6 billion US dollars. The Blazer bought everyone in 1988 for 70 million US dollars.

One of the possible bidders is the billionaire Nike founder and the Phil Knight, who comes from Portland, who reported to the team in 2022 to buy the franchise. The 87 -year -old Knight had teamed up with Los Angeles Dodger’s minority owner Alan Smolinisky at that time.

The announcement of the sale on the day after the NBA lottery, in which the Blazer had a chance of 18% to receive a top -4 selection, but could have played a role in the timing from place to No. 11.

In basketball -centered steps, the franchise expanded the contracts of coach Chauncey Billups and General Manager Joe Cronin after the season. The Blazer went 36-46 this season, their best record in four years, but they have not been played since 2021. They started a complete conversion when the franchise star Damian Lillard acted in 2023.

Trust said the sales process would continue to the 2025-26 NBA season. All & Co. and the law firm Hogan Lovells have stopped carrying out the process.