Jody Allen plans to sell Blazers, team now valued at $1.85 billion
NBA franchise values have skyrocketed in recent years, and the Portland Trail Blazers latest Forbes valuation at $1.85 billion has sparked speculation that owner Jody Allen could field offers for the team.
Dwight Jaynes of NBC Sports Northwest (a team-affiliated media outlet, it’s worth noting) surmised that the franchise’s increasing value and Allen’s lukewarm interest in basketball could motivate her to sell. Allen took over control of the Trail Blazers in Oct. 2018 after the passing of her brother, Paul Allen, who had owned the team since 1988. She also assumed control of the Seattle Seahawks, among Paul’s other assets.
“Jody Allen is going to sell this team,” writes Jaynes. “I’m not sure when, because it probably has to await the untangling of all of Paul Allen’s assets….The people operating this franchise have always assured everyone that it isn’t for sale, but I think that’s what you have to say in order to keep potential free agents, advertisers, sponsors and even fans comfortable with their investment in the team….Nobody knew Paul Allen was buying the team until he sat down at his first news conference…I expect the same thing to happen in the next year or two — only Jody Allen isn’t likely to be there…But she’s going to sell. And you can take that to the bank.”
Portland has made the playoffs six consecutive seasons, including an unexpected run to the Western Conference Finals in 2019. That postseason streak is being threatened, however, as the injury-riddled Blazers (27-35) trail the Memphis Grizzlies (30-31) by 3.5 games for the no. 8 seed in the West.