PORTLAND, Ore. (KOIN) — The Portland Trail Blazers may soon have some new owners.

According to ESPN’s Adrian Wojnarowski, Nike Founder Phil Knight and Dodgers Co-owner Alan Smolinisky have made a written offer of over $2 billion to buy Portland’s basketball team.

Wojnarowski says discussions are ongoing with the Paul Allen trust, which is overseeing ownership of the team.

“The presence of Phil Knight in the proposed ownership group speaks to its desire to keep the Blazers in Portland and move the franchise forward there. Again, talks are ongoing on the possible purchase of the franchise,” Wojnarowski said in a tweet on Thursday afternoon.

Knight’s interest in buying the team stems from the desire to ensure that the Blazers stay in Portland, according to Wojnarowski.

The organization confirmed that Knight did make an offer to buy the Blazers, but said that the team is not for sale.

Blazer legend Clyde Drexler said that he would support having Knight as the team’s owner.

“I think it would be great to have a local owner, who sees the value of the franchise, such as the Blazers,” Drexler said. “Phil certainly has the dollars to make it happen. He’d be a great owner.”

This is a developing story, more details are forthcoming.