Overview

• The estate of late Microsoft co-founder Paul Allen has formally initiated the sale of the Portland Trail Blazers, in accordance with his will directing the eventual sale of his sports holdings.
• Investment firm Allen & Company and law firm Hogan Lovells have been engaged to manage the sale process, which is expected to extend into the next NBA season.
• Phil Knight, Nike co-founder and Oregon native, has publicly stated he is no longer interested in acquiring the team, citing his age as a factor.
• Speculation surrounds potential bidders, including MacKenzie Scott, Jeff Bezos, Larry Ellison, and local business leaders, though no formal offers have been disclosed.
• Proceeds from the sale will fund philanthropic initiatives in line with Paul Allen’s legacy, while local leaders emphasize the importance of keeping the team in Portland.