Nike founder Phil Knight has made an offer to buy the Portland Trail Blazers, but the franchise is not for sale.
ESPN Insider Adrian Wojnarowski report Knight and Los Angeles Dodgers part-owner Alan Smoliniski bought the Trail Blazers for more than $2 billion from the Paul Allen Trust, which oversaw Allen’s death in 2018 team.
The Blazers confirmed to USA TODAY Sports on Thursday that “Phil Knight made an offer,” but that’s where things get interesting. “The team is still not for sale.”
In October 2021, Forbes valued the Trail Blazers at $2.05 billion, ranking them the 13th most valuable team in the NBA. According to Forbes, the co-founder of Nike is the 26th richest person in the world with a net worth of $47.5 billion.
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Because of his ties to the area, Knight’s proposal shows he wants to keep the organization in Portland, Wojnarowski said. Born in Portland, Knight played track and field at the University of Oregon and continues to support his alma mater. Nike is headquartered in Beaverton, Oregon.
Microsoft co-founder Paul Allen was the longtime owner of the Trail Blazers, Seattle Seahawks and Seattle Sounders until his death in 2018 from non-Hodgkin lymphoma. Allen’s sister Jody Allen oversees the Paul Allen Trust.
NBA Commissioner Adam Silver spoke about a potential Trail Blazers sale during a media interview ahead of Game 1 of the NBA Finals on Thursday.
He said the Blazers trustees must sell the team at some point in the future, adding: “Portland has been a great community in the NBA for over 50 years and our preference, my preference, is that this The team still exists in Portland.”
The Trail Blazers acquired the No. 7 overall pick in the June 23 NBA draft.