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Trail Blazers announce plans to sell franchise

The Portland Trail Blazers announced plans to sell the NBA franchise on Tuesday, beginning a formal sales process led by Allen & Company and Hogan Lovells.
The sale follows the directive of Paul Allen, who owned the team until his death in 2018 and ordered all sports holdings eventually be sold with proceeds going to philanthropy.
The Blazers’ franchise is valued at nearly $3.5 billion, and the completion of the sale, anticipated to carry on through the 2025-26 NBA season, requires approval from the league’s governing body.
Jody Allen has owned the team since 2018, and the sale will have no impact on the Seattle Seahawks or the estate’s 25% stake in the Seattle Sounders, both of which remain off the market.
The sale process fulfills Allen's estate plan and could conclude without a fixed timeline, reflecting the complexity of managing such assets and the legacy’s philanthropic focus.

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