The Paul Allen estate sold the Portland Trailblazers to a group led by Carolina Hurricanes owner Tom Dundon for $4 billion Wednesday, according to The Associated Press.
Allen’s estate currently holds the Seattle Seahawks and Sounders following the Trailblazers sale, leaving KIRO host Gee Scott to question what could happen moving forward with the remaining Seattle franchises held by the estate.
“The Portland Trailblazers have been sold. When will the Seahawks be sold?” Gee asked on “The Gee and Ursula Show” on KIRO Newsradio. “According to Paul Allen’s will, it is dictated that his sports holdings should be sold following his death.”
Paul Allen’s estate owns the Seattle Seahawks and has a 25% stake in the Seattle Sounders. Included in Allen’s will, his estate would be sold following his death, and proceeds would be directed towards philanthropic causes.
“I’m going to guess most people don’t care about the sale of the Trailblazers, unless it has some ramifications or repercussions when it comes to what will happen to our Seahawks,” KIRO host Ursula Reutin said.
Allen’s sister, Jody, is now the sole owner of the Allen estate, which is held inside a trust. Jody was listed as the trustee and designated to follow through on the terms provided within Allen’s will.
Could the Trailblazers move cities?
The recent sale of the Trailblazers leaves potential for the team to relocate, possibly filling a void created in 2008 with Howard Schultz’s sale of the Seattle Supersonics.
“How long do the Portland Trailblazers stay in Portland? The thrill is gone; my guess is not long. I don’t think they keep the team in Portland,” Gee said
“Where would be some of the likely markets? Who’s waiting for a basketball team to come back? Would that be us?” Ursula asked.
“I’m glad you asked. Nobody has been waiting for a team like Seattle has,” Gee said.
The loss of the Seattle Supersonics nearly two decades ago created speculation ever since the sale over when, if ever, the NBA would bring a team back to the city.
“I know that the Hurricanes owner paid $4 billion for the Trailblazers. I guarantee you that he could take the team, bring them up to Seattle, and after one season, that team is automatically worth $6 to $7 billion profit,” Gee said.
Listen to the full conversation below.
Listen to Gee and Ursula on “The Gee and Ursula Show” weekday mornings from 9 am to 12 pm on KIRO Newsradio.