The estate of Microsoft co-founder Paul Allen has officially started the process of selling the NBA’s Portland Trail Blazers, the team announced Tuesday.
According to a statement from the team, the move follows Allen’s directive that his sports franchises eventually be sold, with all proceeds directed toward philanthropic causes.
— Portland Trail Blazers (@trailblazers) May 13, 2025
Allen, who passed away in 2018 at age 65 from complications related to non-Hodgkin lymphoma, had a broad portfolio of sports investments. He purchased the Trail Blazers in 1988, later becoming a co-owner of the Seattle Sounders and sole owner of the NFL’s Seattle Seahawks. His sister, Jody Allen, has overseen the franchises and serves as trustee of the Paul G. Allen Trust.
To lead the sale of the Trail Blazers, the estate has retained New York-based investment firm Allen & Company and the law firm Hogan Lovells. The sale is expected to take time, with the process likely extending into the 2025–26 NBA season. Any agreement with a buyer must be approved by the NBA Board of Governors.
The announcement clarifies that the sale applies only to the Trail Blazers.
The Seahawks and the trust’s 25% stake in the Sounders are not currently for sale.
Allen expressed deep enthusiasm for basketball when he bought the Trail Blazers more than three decades ago, telling The Associated Press in 1988 that, “for a true fan of the game, this is a dream come true.”
Speculation over the future of Allen’s teams has been ongoing since his death.
His will stipulated that all of his sports holdings would eventually be sold, with the proceeds supporting philanthropic efforts through the estate.
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