Paul Allen’s Estate Officially Puts Portland Trail Blazers Up for Sale
The estate of the late Microsoft co-founder Paul Allen has officially announced that the Portland Trail Blazers are now for sale. The proceeds from the sale will support charitable causes, in line with Allen’s wishes.
Since his passing from cancer in 2018, his sister, Jody Allen, has overseen the team’s operations as the trustee of his estate.
While the Trail Blazers are now on the market, the estate clarified that the Seattle Seahawks (NFL) and its 25% stake in the Seattle Sounders (MLS) are not included in the sale.
The timing follows several major developments:
- The NBA recently secured a massive $77 billion media rights deal with ESPN, NBC, and Amazon.
- In 2024, the Blazers sold the Moda Center to the City of Portland for $1 and sold the land beneath it for $7 million.
- A public-private project to renovate the arena was launched, extending the team’s lease until 2030.
The recent sale of the Boston Celtics for a record-breaking $6.1 billion significantly raised franchise values. Sportico now values the Blazers at $3.6 billion—Allen bought them in 1988 for just $70 million.
Nike’s owner Phil Knight may be a potential buyer
One notable potential buyer is Nike founder and Portland native Phil Knight. Who previously made a bid for the franchise in 2022 alongside Dodgers minority owner Alan Smolinisky.
The sale was announced a day after the NBA Draft Lottery, where the Blazers dropped from the 10th to the 11th pick, missing a top-4 selection.
Despite the sale process, the team has been making basketball decisions—recently extending the contracts of head coach Chauncey Billups and GM Joe Cronin.
The Blazers finished this past season 36-46, their best in four years, but have not made the playoffs since 2021. The franchise began a rebuild after trading Damian Lillard in 2023.
The estate has hired investment firm Allen & Co. and law firm Hogan Lovells to oversee the sale, which is expected to continue into the 2025-26 season.
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