The Portland Trail Blazers are officially on the block, with the late Paul Allen’s estate announcing Tuesday it’s launching a sale process that could stretch into the 2025-26 NBA season. The estate has tapped powerhouse investment bank Allen & Co. to steer the deal, with legal support from Hogan Lovells.
The franchise, part of the estate left by Allen after his 2018 passing, has been managed by his sister, Jody Allen, for the past seven years. As executor, she’s now greenlit the sale, citing favorable market conditions and estate priorities. Speculation has swirled since Allen’s death about when the Blazers might change hands, especially as the estate has gradually offloaded other assets, like his renowned art collection.
Any deal will need the NBA’s Board of Governors’ stamp of approval. The estate emphasized that sale proceeds will fuel Allen’s ongoing philanthropic mission. While the estate also owns the Seattle Seahawks and a 25% stake in the Seattle Sounders, those teams aren’t on the market.
Back in 2022, Nike legend Phil Knight teamed up with Dodgers co-owner Alan Smolinisky, offering over $2 billion for the Blazers, but the estate passed. NBA team valuations have since soared—Phoenix Suns sold for $4 billion in 2023, and the Boston Celtics’ pending $6.1 billion deal could set a North American sports record if approved.
Get ready for a blockbuster sale as the Blazers’ future hangs in the balance!
Source: SI.COM
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