Paul Allen's Estate Initiates Sale of Portland Trail Blazers, Eyeing Philanthropy and NBA Expansion

33 posts • Grok (2)

Updated May 13, 2025, 08:35 PM

The estate of Paul G. Allen has initiated a formal sales process for the Portland Trail Blazers, in line with the late owner's directive to eventually sell his sports holdings and allocate all proceeds to philanthropy. The sales process, led by investment bank Allen & Co and law firm Hogan Lovells, is expected to extend into the 2025-26 NBA season. The sale requires approval from the NBA Board of Governors.

Paul Allen, who co-founded Microsoft, purchased the Trail Blazers in 1988 for $70 million, fulfilling his dream of owning an NBA team and becoming the youngest owner of any professional North American sports franchise at the time. The team is now valued at approximately $3.6 billion. Allen's estate, managed by his sister Jody Allen since his death in 2018, also owns the Seattle Seahawks and a 25% stake in the Seattle Sounders, though these assets are not currently for sale.

Speculation about the sale of the Trail Blazers has been ongoing since Allen's death, with Nike founder Phil Knight previously expressing interest in purchasing the team. The sale of the Trail Blazers could impact the timeline for the NBA's potential expansion to Seattle, as the league's owners are expected to discuss expansion at their July meeting in Las Vegas. The recent sale of the Boston Celtics for $6.1 billion sets a benchmark for NBA franchise valuations.

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John Canzano

@johncanzanobft

Phil Knight and Alan Smolinisky made an offer for the Trail Blazers. Jody Allen told them to pound sand. The franchise is now on the block. Is Knight a buyer? My column:

Ron Wyden

@RonWyden

I’m glad for all of us rooting in #RipCity that Trail Blazers ownership is moving forward to make sure our team has a certain future. And by certain, I mean the Blazers staying right where they belong – in Portland.

Yashar Ali 🐘

@yashar

As expected, the estate of Paul Allen is putting the Portland Trail Blazers up for sale.

Joe Pompliano

@JoePompliano

Paul Allen's estate also owns the Seattle Seahawks. His will reportedly stipulated that both the Trail Blazers and Seahawks had to be sold, with the proceeds donated to charitable causes. However, his sister, Jody Allen, couldn't sell the Seahawks until at least 2025 because

Kurt Helin

@basketballtalk

Paul Allen's estate formally puts the Portland Trail Blazers up for sale, money going to philanthropy Nike founder Phil Knight has long had an interest in buying the team, but there will be plenty of bidders.