Allen Estate Confirms: Trail Blazers Are Officially Up for Sale!

The Portland Trail Blazers are officially up for sale, following the wishes of their late owner, Paul Allen. He passed away from cancer in 2018, and his will stated that the team should eventually be sold. For the last few years, his sister, Jody Allen, has managed the team as the executor of the Paul Allen Trust.

The decision to sell comes after several significant developments. Notably, the NBA recently secured new media rights deals worth a staggering $77 billion with ESPN, NBC, and Amazon. In addition, the Blazers sold their home arena, the Moda Center, to the City of Portland for just $1, along with the land for $7 million. They plan to revamp the arena and surrounding area through a public/private partnership, with new renovations set to continue through 2030.

A record-setting sale earlier this year saw the Boston Celtics go for $6.1 billion, which has pushed the value of all NBA teams higher. Currently, the Blazers are valued at around $3.6 billion. Paul Allen bought the team in 1988 for just $70 million, highlighting how dramatically sports franchises have increased in worth over the decades.

Among the interested buyers is Phil Knight, the co-founder of Nike and a Portland native. He had previously shown interest in the team in 2022, teaming up with Los Angeles Dodgers minority owner Alan Smolinisky for that bid.

The timing of this sale announcement coincided with the recent NBA lottery. The Blazers had an 18% chance of landing a top pick but instead dropped from the 10th to the 11th position. This season, the team showed some improvement, finishing with a record of 36-46, their best in four years, but they haven’t made it to the playoffs since 2021. The Blazers entered a rebuild after trading star Damian Lillard in 2023.

The sale process will extend into the 2025-26 NBA season, with Allen & Co. and the law firm Hogan Lovells overseeing the process. This could usher in a new era for the team and its fans.

As the NBA continues to evolve, the willingness of teams to restructure and adapt will be essential. Recent statistics indicate a growing interest in NBA games, with viewership increasing annually. As of January 2023, NBA games recorded an average of 1.6 million viewers per game, showcasing the league’s robust fanbase.

This sale is not just about finances—it’s a pivotal moment for Portland. The Blazers have a deep connection with their community, and this next chapter could shape the future of basketball in the city.



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