Portland Trail Blazers Listed for Sale by Paul Allen’s Estate

Portland, Oregon- The estate of the late Microsoft co-founder Paul Allen has formally initiated the sale process for the NBA’s Portland Trail Blazers, aligning with Allen’s directive that proceeds from the sale of his sports holdings be directed toward philanthropic initiatives.

Since Allen’s death in 2018, his sister, Jody Allen, has managed the team as the trustee of the Paul G. Allen Trust. The estate has enlisted investment bank Allen & Company and law firm Hogan Lovells to oversee the sale, which is expected to extend into the 2025–26 NBA season. Any transaction will require approval from the NBA’s Board of Governors.

Paul Allen purchased the Trail Blazers in 1988 for $70 million. The team is currently valued at approximately $3.65 billion, ranking 22nd out of 30 NBA teams in terms of valuation.

While the estate also owns the NFL’s Seattle Seahawks and holds a 25% stake in the MLS’s Seattle Sounders, it clarified that these clubs are not for sale.

The Trail Blazers concluded the 2024–25 NBA season with a 36–46 record, finishing 12th in the Western Conference and missing the playoffs for the fourth consecutive year.

The announcement has sparked discussions among fans and stakeholders about the future of the franchise, including potential relocation concerns. Notably, in 2022, Nike co-founder Phil Knight, a native of Oregon, reportedly made a $2 billion offer to purchase the team, which was declined at the time.

The sale process is anticipated to be complex and protracted, with no specific timeline established for its completion. The estate has emphasized that the proceeds from the sale will support various philanthropic endeavors, in accordance with Paul Allen’s wishes.