Paul Allen Estate Begins Formal Sale of Portland Trail Blazers

The Portland Trail Blazers are officially up for sale as the estate of late Microsoft co-founder Paul Allen has initiated a formal sales process, consistent with Allen’s directive to sell his sports holdings and direct the proceeds to philanthropy. The sales process is expected to extend into the 2025-26 NBA season and must be ratified by the NBA Board of Governors before finalization. The sale will not impact the Seattle Seahawks or the estate’s 25% stake in the Seattle Sounders, which are not for sale. The Blazers, purchased by Allen in 1988 for $70 million, are currently estimated to be worth around $3.5 billion, although some expect the sale price could reach $4.5 billion or more given recent high-profile sports franchise transactions. Jody Allen, Paul Allen’s sister, oversees the estate and has been chair of both the Blazers and Seahawks since his passing. Speculation about potential buyers, including Nike founder Phil Knight, has surfaced, but the franchise’s lease with Portland’s Moda Center remains in place through 2030, reducing the likelihood of relocation.