Paul Allen's estate puts Portland Trail Blazers up for sale

The Portland Trail Blazers announced Tuesday morning that ownership is beginning the process of selling the team.

The estate of Paul Allen, also the owner of the Seattle Seahawks, has selected investment bank Allen & Co. and law firm Hogan Lovells to lead the sales process, which will likely continue into the 2025-26 basketball season. The NBA Board of Governors must then ratify a final purchase agreement.

According to a statement from the Blazers, the sale will be “consistent with Allen’s directive to eventually sell his sports holdings and direct all Estate proceeds to philanthropy.” A buyer was not announced.

Allen, a Microsoft co-founder, acquired the Blazers in 1988 and died of cancer in 2018.

https://www.bizjournals.com/seattle/news/2025/05/13/portland-trail-blazers-for-sale-seahawks-sounders.html