News

Trail Blazers Say Team ‘Not For Sale’ Rejects Nike Founder Phil Knight’s $2 Billion Offer

Nike founder Phil Knight and Dodger’s co-owner Alan Smolinsky are in talks to buy the Portland Trail Blazers in a deal worth more than $2 billion. However, the Blazers have rejected the offer issuing a statement that the team remains not for sale. The team is currently owned by Jody Allen, brother of the late Paul Allen who owned both the Seattle Seahawks and Portland Trailblazers, among other assets. Allen died in 2018 triggering a clause that exists within his trust.


Seattle writer Art Thiel reported that Allen has a certain amount of time to sell the team as illustrated in her late brother’s trust, “Ultra-rich people and their lawyers, locally and nationally, know the Vulcan trust’s requirement to sell Paul Allen’s assets is within 10 years of his 2018 death. Seahawks/Blazers could be sold at any time should a take-or-leave blockbuster be offered.”

Knight’s offer of $2 billion is similar to that of former Microsoft CEO Steve Ballmer‘s offer to buy the Los Angeles Clippers in 2016 following Donald Sterling‘s dismissal from ownership. According to Forbes, the franchise is valued at about $2.05 billion but has continued to see growth even following Allen’s death, growing 11% in value since 2021. Allen bought the team in 1988 for about $70 million.

It is unclear whether or not the rejecting of Knight’s offer is a ploy to renegotiate or if there is no immediate desire to sell the team. Potential ownership groups have expressed a desire to expand the WNBA into Portland. Owner of the Sports Bra in Portland, Jenny Nguyen, said that WNBA expansion in Portland would be a no-brainer, “Basketball is my sport. I’m a huge fan of the WNBA; it would make my day. That’s one of the reasons why I opened the Sports Bra here. One, it’s my hometown, and two, I think the community is so supportive of women’s sports. So, bringing a WNBA team here is a no-brainer.”

Subscribe to our free weekly newsletter!

A week of sports news in your in-box.
We find the sports news you need to know, so you don't have to.

Knight and Smolinksy reportedly plan to remain aggressive in talks to acquire the team.

Noah Odige

Recent Posts

Diontae Johnson Excited To Move From Panthers To Ravens, Could Help In Playoff Push

Wide receiver Diontae Johnson is reportedly settling in well with the Baltimore Ravens after the…

10 hours ago

What Happened To Aaron Judge? After Yankees Fall Short In World Series, Fans Are Asking Questions

Aaron Judge seemed to flip the script on his disastrous World Series and postseason with…

10 hours ago

As The Yankees Collapse In World Series, Free Agency Battle For Juan Soto Begins

The New York Yankees' 2024 season came to a screeching halt Wednesday night when the…

2 days ago

Dodgers Win World Series In Game 5, Yankees Blow Five-Run Lead In Disastrous Finale

The Los Angeles Dodgers defeated the New York Yankees 7-6 in Game 5 to win…

2 days ago

Brad Pitt Makes Surprise Appearance At Mexican Grand Prix To Shoot His Movie, ‘F1’

https://youtu.be/Y69VZZt9rt4 Brad Pitt made a surprise appearance at the Mexican Grand Prix’s practice round on Oct. 26.…

2 days ago

76er’s Joel Embiid Stays In NBA News Even While Not Playing

Joel Embiid’s name came up twice in NBA news this week as he continues to…

3 days ago