The estate of the late Paul G. Allen has officially announced the start of the formal sales process for the Portland Trail Blazers NBA franchise. This move aligns with Allen’s wishes to eventually sell his sports holdings and direct all proceeds from the sale toward philanthropic causes. The estate has engaged Allen & Company, an investment banking firm, and the law firm Hogan Lovells to manage the sales process, which is expected to continue through the 2025-26 NBA season. Any final sale will require approval from the NBA Board of Governors, composed of team owners across the league.
Paul Allen, co-founder of Microsoft, purchased the Trail Blazers in 1988 for $70 million. Since his passing in 2018 due to complications from non-Hodgkin lymphoma, the team has been operated by his estate, led by his sister Jody Allen, who also serves as trustee of the estate. While the Trail Blazers are now up for sale, the estate confirmed that this does not affect ownership of the NFL’s Seattle Seahawks or the estate’s 25% stake in the MLS’s Seattle Sounders, both of which remain off the market.
Previously, in 2022, Nike founder Phil Knight and Dodgers co-owner Alan Smolinisky made an offer exceeding $2 billion to purchase the Blazers, but the team was not for sale at that time. Forbes currently values the Trail Blazers at approximately $3.5 billion, making them one of the lower-valued NBA franchises. The sale marks a significant chapter in the franchise’s history as it transitions from the stewardship of the Allen estate to new ownership, with all proceeds dedicated to charitable endeavors in accordance with Paul Allen’s legacy
