The Estate of Paul G. Allen has commenced the sales process for the Portland Trail Blazers franchise, the organization announced on Tuesday.
Here’s a release from the Trail Blazers:
The Estate of Paul G. Allen announced it has commenced a formal sales process for the Portland Trail Blazers NBA franchise, consistent with Allen’s directive to eventually sell his sports holdings and direct all estate proceeds to philanthropy.
The estate has selected investment bank Allen & Company and law firm Hogan Lovells to lead the sales process, which is estimated to continue into the 2025-26 basketball season.