Jody Allen: Trail Blazers not for sale

The Trail Blazers are not for sale and there are no discussions about potentially selling the team, chairman Jody Allen said in declaration released on Tuesday by the team.

“As chairman of both the Portland Trail Blazers and the Seattle Seahawks, my long-term focus is building championship teams that make our communities proud,” Allen said. “Like my brother Paul, I believe and expect our leaders and coaches to build winning teams that deliver results on and off the court and field.

“As we have stated before, none of the teams are for sale and there are no sales discussions taking place.

“There will come a time when this will change given Paul’s plans to devote the majority of his wealth to philanthropy, but estates of this size and complexity can take 10 to 20 years to liquidate.” There is no predetermined timetable by which the teams must be sold.

“Until then, my focus – and that of our teams – is on winning.”

Longtime Blazers owner Paul Allen died in October. 15, 2018, resulting in control of the franchise being transferred to his sister, Jodi, the trustee and executor of his estate. As noted in Tuesday’s statement, the plan after his death was for Blazers ownership to eventually change hands as part of an estate sale.

A report earlier this year suggest that some league insiders believe the sale of the Blazers will be completed by the end of 2023, and ESPN’s Adrian Wojnarowski revealed last month that Nike co-founder Phil Knight and Dodgers co-owner Alan Smolinski are making an effort to buy the franchise with an offer in excess of $2 billion.

However, the Blazers indicated during Wojnarowski’s report that the team is not for sale, and Allen’s comments on Tuesday suggested there are no plans to sell it in the near term. That will change at some point, but the exact timeline remains up in the air.

Related Posts

Leave a Reply

Your email address will not be published.