US EditionTrail Blazers announce plans to sell franchise
- The Estate of Paul G. Allen revealed on Tuesday that it has initiated an official process to put the Portland Trail Blazers NBA team on the market.
- Following Paul Allen's passing in 2018, the current sale process aligns with his instructions to divest his sports assets over time and allocate all resulting estate funds toward philanthropic efforts.
- The estate has appointed Allen & Company as the investment bank and Hogan Lovells as the legal advisor to manage the sales process, which is anticipated to extend through the 2025-26 basketball season.
- The Trail Blazers franchise is valued near $3.5 billion, and the sale requires approval from the NBA Board of Governors to complete the transaction.
- The announcement confirms that the Seattle Seahawks NFL team and the estate's 25% ownership in the Seattle Sounders MLS remain excluded from any sale and are not being offered on the market.
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The Oregonian+2 Reposted by 2 other sources
Trail Blazers announce plans to sell franchise
The Blazers are owned by the Estate of Paul G. Allen, who passed away in 2018.
·Portland, United States
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Total News Sources16
Leaning Left4Leaning Right0Center5Last UpdatedBias Distribution56% Center
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- 56% of the sources are Center
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C 56%
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