Phil Knight Out: He Won’t Buy the Trail Blazers
Nike co-founder Phil Knight has expressed his lack of interest in acquiring the Portland Trail Blazers, the NBA team that is in the process of being sold.
The news comes after the announcement by the team’s ownership, which began the search for a new owner for the Blazers. The decision is based on the wishes of the late Paul Allen, co-founder of Microsoft, who stipulated the sale of his sports properties in his will.
Knight, who had previously shown interest in acquiring the team, confirmed his decision through a statement issued by Nike.
Five years ago, when I was younger, I had a great interest in being part of the Portland Trail Blazers franchise. However, at my current age, I can confirm that I am no longer interested in acquiring the team.
Phil Knight
Paul Allen, before his death in 2018, owned the Trail Blazers, the NFL’s Seattle Seahawks, and a stake in the Major League Soccer’s Seattle Sounders. Currently, his sister, Jody Allen, is the chair of the Blazers and the Seahawks, as well as a trustee of the Paul G. Allen Trust.
The sale of the Blazers aligns with Allen’s directive to sell his sports assets and allocate the funds to philanthropy. Neither the Seahawks nor the Sounders are currently for sale.
It was reported that Jody Allen rejected an offer from Knight to buy the Blazers for over $2 billion in 2022. At that time, there were no conversations about selling the team.
The estate has hired the investment firm Allen & Company and the law firm Hogan Lovells to lead the sale process, which is expected to continue until the next NBA season.
U.S. Senator Ron Wyden has urged NBA Commissioner Adam Silver to ensure the Blazers remain in Portland, where the team has been since 1970.
Wyden recalled the 1977 NBA championship and the “Blazermania” that captivated the city, turning players like Bill Walton and Maurice Lucas into heroes.
The Trail Blazers finished the season with a 36-46 record and failed to qualify for the playoffs for the fourth consecutive year. They have the eleventh pick in the upcoming NBA draft.
