The Portland Trail Blazers are set to start a formal sales process on Tuesday.
ESPN's Shams Charania was the first to report.
"Estate of Paul G. Allen is starting a formal sales process for the Portland Trail Blazers, sources tell ESPN. Allen & Co and law firm Hogan Lovells leads sales process, is estimated to continue into 2025-26, with all Estate proceeds going to philanthropy, per Paul's wishes," Charania wrote.
The Trail Blazers' current owner, Jody Allen, inherited the team in 2018 after the death of her brother, Microsoft co-founder Paul Allen.
This story will be updated....
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This story was originally published May 13, 2025 at 10:17 AM.