Phil Knight Rules Out Portland Trail Blazers Purchase Amid Estate Sale

Phil Knight, co-founder of Nike and a Portland native, has officially ruled out any interest in purchasing the Portland Trail Blazers despite previous speculation and a reported $2 billion offer in 2022 alongside Dodgers co-owner Alan Smolinisky. Knight, now 87 years old, stated that while he had a strong interest in the team five years ago, he no longer wishes to be involved due to his current age. The Blazers, currently owned by the estate of late owner Paul Allen, were put up for sale recently, with the formal sales process expected to continue into the 2025-26 NBA season. Paul Allen, co-founder of Microsoft, had owned the franchise since 1988 until his death in 2018, and the estate is managing the sale with investment bank Allen & Company and law firm Hogan Lovells overseeing the transaction. The sale marks a significant transition for the team, which is valued at $3.6 billion and is one of the NBA's most recognizable franchises. Knight had a long-term desire to keep the team in Portland due to his regional ties, including Nike's nearby campus and his University of Oregon attendance.