Paul Allen Estate Initiates Portland Trail Blazers Sale for Charity

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 in line with Allen's directive to sell his sports holdings and direct proceeds to philanthropy. The estate has hired Allen & Company and Hogan Lovells to manage the sale, which is expected to extend into the 2025-2026 NBA season and requires NBA Board of Governors approval. The Seattle Seahawks and the estate's stake in the Seattle Sounders are not part of the sale. The franchise's value is estimated around $3.5 billion to $3.65 billion, a significant increase from the $70 million purchase price in 1988, though it is likely to sell for less than recent record NBA franchise sales like the Boston Celtics' $6.1 billion. Nike co-founder Phil Knight and developer Alan Smolinisky have expressed interest in the team, potentially leveraging the opportunity to revitalize the surrounding Rose Quarter area, but the sale marks a shift after years of resistance from Jody Allen, Paul Allen's sister and estate trustee. Fans remain hopeful the sale will bring positive changes without relocation, with legacy and community impact key considerations among prospective buyers.