Nike founder Phil Knight makes offer to buy Trail Blazers, but team says it 'remains not for sale'
Nike founder Phil Knight has made an offer to purchase the Portland Trail Blazers, but the franchise is not for sale.
ESPN insider Adrian Wojnarowski reported that Knight and the Los Angeles Dodgers part-owner Alan Smolinisky made a $2 billion-plus bid to purchase the Blazers from the Paul Allen Trust, which oversees the franchise following Allen's 2018 death.
The Blazers confirmed to USA TODAY Sports on Thursday that "an offer was made by Phil Knight," but this is where things get interesting. "The team remains not for sale."
In October 2021, Forbes valued the Blazers franchise at $2.05 billion, the 13th-most-valuable NBA franchise. 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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Wojnarowski said that Knight's offer shows a desire to keep the organization in Portland, due to his ties to the area. Born in Portland, Knight ran track at the University of Oregon and continues to support his alma mater. Nike headquarters is based in Beaverton, Oregon.
Microsoft co-founder Paul Allen was the longtime owner of the Blazers, along with the Seattle Seahawks and the Seattle Sounders FC, up until his death following a bout with non-Hodgkin lymphoma in 2018. Allen's sister, Jody Allen, oversees the Paul Allen Trust.
NBA Commissioner Adam Silver addressed the potential Blazers sale during a media availability ahead of Game 1 of the NBA Finals on Thursday.
He said the trustee of the Trail Blazers is required to sell the team "at some point" in the future, adding, "I don't have any sense of the precise timing. I read that same statement today in which she or someone on behalf of the estate said the team is not currently for sale. But at some point it will be for sale. This is a hugely a complex estate, and although it's been several years, these things take time."
The Blazers have the No. 7 pick in the NBA Draft on June 23.
This article originally appeared on USA TODAY: Nike founder makes offer to buy Trail Blazers. Franchise not for sale.
