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Trail Blazers Officially Put Up for Sale by Paul Allen's Estate

Ryan Phillips

An overall view of the Portland Trail Blazers NBA Cup Court before the game against the Minnesota Timberwolves at Moda Center.
An overall view of the Portland Trail Blazers NBA Cup Court before the game against the Minnesota Timberwolves at Moda Center. / Soobum Im-Imagn Images
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The Portland Trail Blazers are about to go on the market.

On Tuesday, ESPN's Shams Charania reported that the estate of Paul G. Allen is set to begin the formal sales process for the Trail Blazers. Allen & Co. and the law firm Hogan Lovells will oversee the process. All the estate proceeds from the sale will go towards philanthropic efforts.

Allen, who cofounded Microsoft with Bill Gates, died in 2018 due to complications from a long battle with cancer.

Allen purchased the Trail Blazers in 1988 for $70 million. Forbes estimated the franchise's value at $3.5 billion in 2024. His estate also owns the Seattle Seahawks, which he bought for $200 million in 1997, and is part-owner of the Seattle Sounders.

The Paul G. Allen Trust, which also owns the Seahawks, mandates that the team be sold in the future. A spokesman for Allen's company, Vulcan LLC, said that sale is likely to come within 10 to 20 years.

The Blazers will be on the market shortly, and that sale will come shortly after Bill Chisholm paid $6.1 billion for the Boston Celtics.

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Ryan Phillips
RYAN PHILLIPS

Ryan Phillips is a senior writer on the Breaking and Trending News team at Sports Illustrated. He has worked in digital media since 2009, spending eight years at The Big Lead before joining SI in 2024. Phillips also co-hosts The Assembly Call Podcast about Indiana Hoosiers basketball and previously worked at Bleacher Report. He is a proud San Diego native and a graduate of Indiana University’s journalism program.

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