PORTLAND, Ore. — The Portland Trail Blazers NBA franchise is up for sale, the Paul Allen estate announced on Tuesday.
In a social media post, the estate for Paul G. Allen said it has started a formal sales process, which they say was part of the Microsoft co-founder’s wishes of selling his sports holdings and donating the proceeds to philanthropic efforts.
Allen died in October of 2018 in Seattle from complications of non-Hodgkin's lymphoma. He was 65 years old.
His sister, Jody Allen, was appointed to oversee the late billionaire's estate.
Nike founder Phil Knight has said in the past that he wanted to buy the Blazers, however, for years there has not been an established timeline for the sale of the Trail Blazers and Allen's other sports holdings.
In a previous statement, Jody Allen said complex estates like her brother's could take a decade or two to "wind down."
READ MORE: Jody Allen says no sale timeline in place for Blazers, Seahawks
Allen’s estate said the news about the Trail Blazers sale doesn’t affect its other sports holdings, like the Seattle Seahawks or its stake in the Seattle Sounders MLS team.
U.S. Senator Ron Wyden commented on the sale, saying he hopes the Blazers remain in Portland.