Trail Blazers Announce Plans To Sell Franchise

The Trail Blazers have begun the process of selling the franchise, the team announced today (via Twitter).

According to the club’s statement, the estate of late Blazers owner Paul Allen has chosen the investment bank Allen & Co. and the law firm Hogan Lovells to lead the sale process, which is expected to continue into the 2025/26 season.

Allen passed away on October 15, 2018, resulting in control of the franchise being transferred to his sister Jody Allen, the trustee and executor of his estate. The plan following Paul Allen’s death was for ownership of the Blazers to eventually change hands as part of an estate sale.

Jody Allen stated in 2022 that there was “no preordained timeline” for the Blazers to be sold, noting that “estates of this size and complexity can take 10 to 20 years to wind down.” Nearly three years later, the sale process has finally gotten underway.

When Sportico published its most recent NBA franchise valuations in late 2024, the Blazers were estimated to be worth $3.6 billion, ranking 23rd among the league’s 30 teams. The Celtics have since reached a tentative sale agreement for a record valuation of $6.1 billion, which may help bump the Blazers’ eventual price tag beyond that $3.6 billion projection.

Nike co-founder Phil Knight and Los Angeles Dodgers minority owner Alan Smolinisky made offers for the franchise in the past, but were turned down by Jody Allen in 2022 and again in 2023.

According to the Blazers, all estate proceeds as a result of the sale will be directed toward philanthropy, per Paul Allen’s wishes.

The news doesn’t affect the NFL’s Seattle Seahawks, who are also controlled by Allen’s estate and aren’t up for sale at this time.