Nike Co-Founder and Oregon Alum Phil Knight Makes Bid to Purchase Portland Trail Blazers
Nike Co-Founder and Oregon Alumnus Phil Knight is trying to purchase the NBA's Portland Trail Blazers, as reported by ESPN's Adrian Wojnarowski.
The 84-year old billionare has teamed up with Los Angeles Dodgers part-owner Alan Smolinisky to make a written offer to buy the Blazers for more than $2 billion.
Only the Houston Rockets (2017, $2.2 billion) and Brooklyn Nets (2019, $3.2 billion) would be higher price tags, if the offer's accepted, in NBA history.
However, the Blazers released a statement proclaiming the team is not for sale in wake of the report: "An offer was made by Phil Knight. The team remains not for sale."
Hours later, NBA commissioner held his annual pre-NBA Finals press conference and discussed the widely-expected impending sale of Portland's franchise.
"At some point, the team will be sold," he said per NBA.com's Mark Medina. "I don't have any sense of the precise timing."
Silver went on to say his preference is that the Blazers remain in Portland.
Knight has a net worth of over $50 billion and was born in Portland before attending the University of Oregon. Duck fans all know Knight's name as the University and athletic department's No. 1 donor, whether it be pushing the envelope with Oregon athletics state-of-the-art facilities, or driving NIL initiatives like Division Street in recent years.
Given his age, the clock is ticking for Knight to witness the Ducks win a national championship in football and it appears he wants to add a Larry O'Brien Trophy to that hypothetical room of accolades.
Trail Blazers owner Jody Allen took over ownership of the franchise following the death of her brother, Paul Allen, in 2018.
In recent seasons, the Blazers have made cost-cutting moves to avoid the luxury tax rather than go all-in to compete for championships during the prime of Damian Lillard's career. A sale of the franchise has widely been viewed across the league as a matter of when, not if.
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