Pump the brakes on the sale of the Portland Trail Blazers.
Less than three hours after reports surfaced about a $2 billion offer to buy the team from Nike founder Phil Knight and Los Angeles Dodgers co-owner Alan Smolinisky, the Blazers released a statement to reporters indicating the franchise is not for sale.
Blazers statement: An offer was made by Phil Knight. The team remains not for sale.
— Adrian Wojnarowski (@wojespn) June 2, 2022
However, the team also acknowledged that Knight and Smolinisky, as well other prospective buyers, have been in contact with the Paul Allen Trust and league office about a potential sale.
ESPN's Adrian Wojnarowski also reports that Knight and Smolinisky will continue making efforts to buy the Blazers.
Phil Knight and Alan Smolinisky have been engaging on the purchase bid with the Paul Allen Trust and league office, sources said. Other prospective groups have done the same, too. The Blazers say they're not for sale, but Knight and Smolinisky are expected to continue pursuit. https://t.co/ZRJSrbQBov
— Adrian Wojnarowski (@wojespn) June 2, 2022
Though billionaire Jody Allen took control of the team after the 2018 death of brother, Paul, the Blazers are actually owned by the late Microsoft co-founder's trust. Oregon sports journalist John Canzano had previously reported the trust states the Blazers and Seattle Seahawks must be sold after Allen's death.
Though there's never been any official word from the team, the long-held expectation in Portland—even before Thursday's news—has been that Jody Allen would eventually sell the Blazers.
Portland boasted the league’s longest active playoff streak before 2021-22, advancing to eight straight postseasons. But a muscle injury sidelined franchise player Damian Lillard for the season's remainder in early January, leaving newly-minted interim general manager Joe Cronin the latitude to finally break up the team’s longstanding core and hit reset ahead of next season.
Lillard is reportedly seeking a two-year, $107 million extension on the four-year deal he signed in July 2019, following Portland’s underdog run to the Western Conference Finals. The Blazers also own the seventh overall pick in the June 23rd draft, one they’re largely expected to trade for an impact player before addressing free agencies of presumed starters Anfernee Simons and Jusuf Nurkic.
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