The Portland Trail Blazers recently wrapped up a 2024-25 season that saw them perform perhaps slightly above expectations but still miss out on the NBA playoffs. The team rewarded head coach Chauncey Billups with a new contract extension earlier this offseason.

Now, more changes are on the horizon for the Blazers, starting at the very top.

“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,” announced Trail Blazers Senior Vice President, Communications and Public Affairs Natalie King in a press statement, per Alex Kirschenbaum of Sports Illustrated.

Allen's estate also owns the Seattle Seahawks, but it appears that that will not change.

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“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. The NBA Board of Governors must then ratify a final purchase agreement,” the statement continued. “This news does not affect the Seattle Seahawks NFL franchise or the Estate's 25% interest in the Seattle Sounders MLS, and neither is for sale.”

Paul Allen passed away from cancer in 2018, and his family has since taken over ownership responsibilities for both the Blazers and Seahawks. They also own a 25% stake in the MLS team, the Seattle Sounders.

The Blazers recently secured the 11th pick in the NBA draft after Monday night's lottery, perhaps not the result that fans were hoping for after another season filled with more losing than winning.

The Blazers now have some decisions to make regarding several key members of their roster, including guard Anfernee Simons, who may no longer fit Portland's needs after the development of big guards like Scoot Henderson and Shaedon Sharpe.