Are Portland Trail Blazers up for sale? Exploring Adam Silver's comment on future of team in NBA

The Portland Trail Blazers' ownership status remains a puzzle after the 2018 death of entrepreneur, film producer and sports executive, Paul Allen. The league's commissioner addressed the issue on Wednesday, providing fans of the franchise with great news.

NBA Commissioner Adam Silver made it clear that Portland isn't for sale.

"The board [of governors] has not discussed compelling a sale of the team," Silver said. "And obviously ‘within a reasonable time’ is subjection to interpretation. In the case of Paul Allen’s estate, it’s one of the largest estates in American history, and is highly complex in terms of his assets.

"I’ve spoken directly to Jody Allen, and they are working through those issues and in the meantime continue to operate the team in a first-class manner."

The Blazers are still under the ownership of the Paul G. Allen Trust, with Jody Allen serving as the chairwoman. Even with instructions from the late philanthropist to sell the team and donate the earnings to charity, nothing has been executed to it.

According to sources, Nike's Phil Knight has shown interest in buying the team. Aside from the Blazers, Allen also owns the Seattle Seahawks.

There have been rumors that the team will probably be on the market in 2024.

You might also be interested in reading this: What are the strengths and weaknesses of Portland Trail Blazers point guard Damian Lillard?

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How much did Paul Allen buy the Portland Trail Blazers?

Portland Trail Blazers

The Portland Trail Blazers have been part of the NBA since 1970. Paul Allen bought the team in 1988 from Larry Weinberg, who was one of the team's founders. Allen bought the team for $70 million and has helped in the growth of the franchise.

Allen was also one of the major factors in the development of the Moda Center. In 2022, the franchise was reportedly valued at $2.1 billion. Among NBA teams, the Blazers rank 16th in team valuations.

Under Allen, the team has found significant success. The franchise has also catered to some of the best players who entered the league. From Clyde Drexler to LaMarcus Aldridge and Damian Lillard. The Blazers still haven't added any trophies since 1977, but the future is bright.