Portland Trail Blazers president Larry Miller resigns, will take job with Nike

Blazers president Larry Miller has resigned and will return to his job at Nike. (Jennifer Pottheiser/NBA)

Portland Trail Blazers president Larry Miller has resigned and will return to his job with Nike, The Oregonian's Jason Quick reported Saturday.

“It felt like it is the right time, and the right thing for me,’’ Miller told the Oregon paper.

Minutes after Quick reported the news via Twitter, the Blazers put out a release confirming Miller's exit.

The 61-year-old Miller still had two years remaining on his Blazers contract. He told Blazers owner Paul Allen on Friday that he planned to resign. At Nike, Miller will become president of the Jordan brand, the old position he held from 1999 through 2006, when he joined the Blazers.

“The timing is right,” said Miller, according to the Blazers' official release. “We have an excellent general manager in place in Neil Olshey, so I feel the team is on solid ground and headed in the right direction. Off the court, business is great. The Rose Garden is packed every night and the passion of Trail Blazers fans has never been better.”

Under Miller's watch, the Blazers began their current streak of 192 consecutive sellouts at the Rose Garden, which dates back to December 2007. Portland also had a streak of three consecutive playoff appearances from 2009-11. The Blazers said that the search for Miller's replacement will begin immediately.

“It is sad to see Larry leaving the Blazers and I want to thank him for his leadership and contributions to the franchise,” Allen said in the team's release. “Larry helped manage a period of significant growth and I wish him all the best as he takes on this opportunity.”