The Portland Trail Blazers could become the latest NBA team to have an ownership change. According to ESPN’s Adrian Wojnarowski, the Blazers are a subject of a bid by Nike co-founder Phil Knight and the Los Angeles Dodgers’ co-owner Alan Smolinisky.
Knight and Smolinisky made an official offer earlier this week and are reportedly ready to pay more than $2 billion for the franchise.
The Trail Blazers were owned by Microsoft co-founder Paul Allen from 1988, when he bought the franchise for $70 million, until his death in 2018. The team has since been managed by Allen’s estate, which is fronted by his sister Jody Allen.
The news about the sale of the Blazers isn’t a surprise considering that Allen reportedly instructed a sale of the team alongside his other assets after his death. The funds received through these sales are set to be used for funding of passion projects he started and philanthropic endeavors.
The basketball fans in Portland might feel uneasy about the sale of the Blazers, as there is always a possibility that a new owner comes and takes the team to a bigger market. However, if the ownership group fronted by Knight comes out on top of the sweepstakes, that shouldn’t be an issue. Knight is Portland-native, and it is believed he would have zero interest in moving the team elsewhere.
