The late Paul Allen owned the Seattle Seahawks and the NBA’s Portland Trail Blazers. Neither are for sale, officially.
That isn’t stopping Nike founder Phil Knight from trying to buy one of them.
As explained by Bob Condotta of the Seattle Times, recent reports from multiple outlets indicate that Knight has submitted a written offer to buy the basketball team for more than $2 billion. The Blazers issued a statement acknowledging the offer but adding this: “The team remains not for sale.”
The activity regarding the Trail Blazers has sparked a fresh wave of speculation regarding the future of Allen’s NFL franchise. The Seahawks reportedly are not for sale, either.
Talk of a potential Seahawks and/or Trail Blazers sale apparently traces to a report from Portland writer and radio host John Canzano, who said the Paul Allen trust provides that his assets must be liquidated with the proceeds going to Allen’s “passion projects.”
Allen’s sister, Jody, inherited both teams along with the rest of her brother’s massive estate. The teams essentially are run by Vulcan, a company that Paul and Jody Allen created in 1986 to basically oversee Paul Allen’s Microsoft-generated billions, and to advance specific philanthropic goals.
If a Seahawks sale is coming, it’s probably a good idea to let things percolate for a few more years. Franchise values currently are spiking. Once the Broncos sell, likely for at least $5 billion, the price for the Seahawks could go even higher — especially as more and more TV and gambling money rolls through the door for all NFL teams.
Before too long, $5 billion will become $7 billion. At some point, $7 billion will become $10 billion.