Trail Blazers Ownership Preparing to Launch Formal Team Sale

The Portland Trail Blazers are set to start a formal sales process on Tuesday.

ESPN's Shams Charania was the first to report.

"Estate of Paul G. Allen is starting a formal sales process for the Portland Trail Blazers, sources tell ESPN. Allen & Co and law firm Hogan Lovells leads sales process, is estimated to continue into 2025-26, with all Estate proceeds going to philanthropy, per Paul's wishes," Charania wrote.

The Trail Blazers' current owner, Jody Allen, inherited the team in 2018 after the death of her brother, Microsoft co-founder Paul Allen.

The franchise hired a law firm to assist with the sale proposals, which, according to the estate, are expected to be completed by the 2025-26 season.

Paul purchased the team in 1988 for $70 million from California real estate developer Larry Weinberg. He was instrumental in developing and funding the Moda Center, where the Blazers call home.

Paul ran the team till his final days. In 2009, he was diagnosed with non-Hodgkin's lymphoma and died in 2018. Upon his death, Jody became the trustee of his estate, which included the Blazers. His estate also owns the Seattle Seahawks, which he purchased in 1997.

Nike owner Phil Knight made a bid for the Blazers in 2022, making a $2 billion-plus offer to buy the team. Forbes estimated that the franchise's value would be $3.5 billion in 2024.

The Blazers are coming off a solid season as they exceeded expectations for the most part. Portland recorded a 36-46 record, which was good for the No. 13 seed in the loaded Western Conference. Many predicted they'd be in line for the No. 1 overall pick, but instead, they ended up outside of the top 10. They now hold the No. 11 pick in this year's draft.

Portland seems to be on a promising trajectory, with an emerging young core and a head coach in Chauncey Billups who's still carving out his identity on the sidelines. The roster features several budding talents, including Scoot Henderson, Shaedon Sharpe, Donovan Clingan, and Toumani Camara, among others.

As this group continues to grow and develop, a rise in the standings feels inevitable. However, by the time this team begins to truly take off, it's possible they'll be doing so under new leadership.

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