Portland Trail Blazers Announce Plans to Sell the Franchise

The Estate of Paul G. Allen has commenced the sales process for the Portland Trail Blazers franchise, the organization announced on Tuesday.

Here’s a release from the Trail Blazers:

The Estate of Paul G. Allen announced it has commenced a formal sales process for the Portland Trail Blazers NBA franchise, consistent with Allen’s directive to eventually sell his sports holdings and direct all estate proceeds to philanthropy.

The estate has selected investment bank Allen & Company and law firm Hogan Lovells to lead the sales process, which is estimated to continue into the 2025-26 basketball season. The NBA Board of Governors must then ratify a final purchase agreement.

This news does not affect the Seattle Seahawks NFL franchise or the estate’s 25% interest in the Seattle Sounders MLS, and neither is for sale.

Blazer’s Edge will have more updates as they come.