Portland Trail Blazers Officially Up for Sale

The Portland Trail Blazers are officially up for sale, as the estate of late Microsoft co-founder Paul Allen has begun a formal sales process in accordance with his wish for all proceeds to go to philanthropy. The sale, managed by Allen & Company and Hogan Lovells, is expected to extend into the 2025-26 NBA season and requires approval from the NBA Board of Governors. Paul Allen originally bought the franchise in 1988 for $70 million, and its current estimated value ranges from $3.6 to $3.65 billion, though recent high-profile NBA sales like the Boston Celtics at $6.1 billion could impact the final price. Nike co-founder Phil Knight previously had a rejected offer, and more bidders are anticipated. The sale does not affect the Seattle Seahawks or the 25% stake in the Seattle Sounders, which remain under the estate's control. Jody Allen, Paul’s sister and the current chair and trustee, is overseeing the process to fulfill her brother’s philanthropic legacy.