PORTLAND, Ore. (KOIN) – Weeks after Nike co-founder Phil Knight and Los Angeles Dodgers part-owner Alan Smolinisky made a joint offer to purchase the Portland Trail Blazers, the team’s owner released a statement saying the team is not for sale.
Jody Allen, chair of the Portland Trail Blazers, announced her plans to continue running the franchise.
Allen is also the chair of the Seattle Seahawks. She took over responsibilities for the teams after her brother, Paul Allen, who owned the teams, died in 2018.
“Like my brother Paul, I trust and expect our leaders and coaches to build winning teams that deliver results on and off the court and field,” she wrote. “As we’ve stated before, neither of the teams is for sale and there are no sales discussions happening.”
Allen said a time will come when the teams’ statuses change, since her brother’s will asks for the vast majority of his wealth to be given to philanthropy, but she said estates of this size and complexity can take 10 to 20 years to wind down.
She said there is no pre-ordained timeline by which the teams must be sold.
According to ESPN, Knight and Smolinsky offered to buy the Trail Blazers for more than $2 billion. The offer was first reported on June 2.
The organization confirmed Knight made an offer to buy the Blazers, but said the team is not for sale.
Oregon sports reporter John Canzano said in a May newsletter that people familiar with the details of the Paul G. Allen Trust have told him there isn’t a lot of “wiggle room” for Jody Allen, his trustee.
“Paul directed that the trust be liquidated upon his death and the assets used to fund his passion projects,” a source told Canzano. “None of this is up in the air. The instructions are clear: The sports franchises and everything in the trust must be sold.”
Read Jody Allen’s full statement below:
“As chair of both the Portland Trail Blazers and the Seattle Seahawks, my long-term focus is building championship teams that our communities are proud of. Like my brother Paul, I trust and expect our leaders and coaches to build winning teams that deliver results on and off the court and field.
“As we’ve stated before, neither of the teams is for sale and there are no sales discussions happening.
“A time will come when that changes given Paul’s plans to dedicate the vast majority of his wealth to philanthropy, but estates of this size and complexity can take 10 to 20 years to wind down. There is no pre-ordained timeline by which the teams must be sold.
“Until then, my focus – and that of our teams – is on winning.”