Phil Knight, Dodgers owner make $2 Billion offer to buy Portland Trail Blazers

The owner and founder of Nike, Phil Knight, has made an offer to buy the Portland Trail Blazers, which is currently owned by the Paul G. Allen Trust.

Knight and Alan Smolinisky, part-owner of the Los Angeles Dodgers, reportedly offered $2 billion to purchase the NBA franchise.

Jody Allen, Paul’s sister, took over chairmanship of the franchise after Paul passed away from cancer in October 2018. The Paul G. Allen Trust also owns the Seattle Seahawks.

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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

“The presence of Phil Knight in the proposed ownership group speaks to its desire to keep the Blazers in Portland and move the franchise forward there,” ESPN NBA reporter Adrian Wojnarowski wrote on Twitter. “Again, talks are ongoing on the possible purchase of the franchise.”

Nike headquarters is based near Portland.

Smolinisky and his ownership group purchased a 5% stake with the Los Angeles Dodgers in 2019. The Dodgers won the World Series in 2020 and lost the National League Championship Series last year.

Knight, 84, stepped down as Nike chairman in 2015. Knight’s net worth is estimated to be $54.5 billion.

In an official response from the Trail Blazers, the statement said the team “remains not for sale.”

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