5:14pm: The Blazers confirmed in a statement that Knight made an offer but said the team is not for sale, Wojnarowski tweets.
Knight and Smolinisky have been engaging on the purchase bid with the Paul Allen Trust and league office, as have other prospective groups. Despite the Blazers’ statement, Knight and Smolinisky are expected to continue their pursuit, Wojnarowski adds in another tweet.
2:18 pm: Nike co-founder Phil Knight and Dodgers co-owner Alan Smolinisky are attempting to purchase the Trail Blazers with a $2 billion-plus written offer, sources tell ESPN’s Adrian Wojnarowski (Twitter link). Talks about the possible transaction are still ongoing, Woj reports.
Knight’s presence in the proposed ownership group “speaks to its desire to keep the Blazers in Portland,” says Woj (via Twitter). Knight, 84, is a Portland native and one of the wealthiest people in the world at $47.4 billion, according to Forbes.
Smolinisky, 42, is a real estate investor who also owns the Palisadian-Post newspaper. He joined the ownership group that purchased the Dodgers in 2019, according to an MLB.com press release.
After longtime Blazers owner Paul Allen passed away in October of 2018, his trust went to his sister, Jody Allen, who’s the current controlling owner of the team. There were whispers and speculation during the 2021/22 season that Allen might put the Blazers up for sale at some point in the near future.
After Portland’s season ended in April, multiple sources suggested to Jake Fischer of Bleacher Report that the Blazers could begin exploring the market for new ownership as early as this summer. Some league insiders believe a sale of the franchise could be completed before the end of 2023, per Fischer.
The Blazers have an important summer ahead after a disappointing season saw them finish 27-55, but nothing will be more important than a potential change in ownership. Portland controls the Nos. 7, 36, and 59 picks in the upcoming draft, and the front office, led by GM Joe Cronin, will have to decide the best pathway to become a championship contender with franchise player Damian Lillard.
Is there a conflict of interest there or does Nike not have any official partnership with the nba
Doubt it he probably has very little to do with nike at 84 years old
I still don’t think she sells… as I think she has other real estate interests in developing Portland’s dowtown entertainment district on the East bank…but $2bn, wow, it’s a little less than Forbe’s valuation but also at a premium to two years ago. Maybe this was Phil Knight’s opening offer and he adds another $200m to close the deal.
She really doesn’t have a choice.
link to theshadowleague.com
Great link !! First I’ve heard of that. All I’ve heard is that she won’t sell but this is very clear. Thank you.
Good article; thx for sharing. I still thinks she holds on for as long as she can. The opportunities here are so valuable. Phil is a businessman. He’s not buying out of charity.
Interested in why you’d think that about Jody and property development in Portland. My impression is that if she never had to venture south from Seattle to Portland again, she’d be just fine.
Portland real estate is still less expensive than the other large metros on the west coast and the city core is blocked in on the west side. On the East side, they are spending $400m+ to renovate the entire freeway system intersection with a complimentary goal of creating a sports and entertainment district. From a commercial real estate perspective there are endless possibilities and will be very profitable. The Blazers owners will have a lot of influence on how things develop near the arena.
She may not be interested in leaving Seattle but doing big business that close isn’t much of a burden on her time.
The team, though its actions, has been telegraphing a potential sale since the deadline. Cronin’s deals can’t be called good, regardless, but if he were told to clean up the balance sheet (ahead of the team being marketed), they would at least be understandable. Assets like this aren’t the easiest for an estate to pass on to heirs, unless it’s a simple parent to child thing.
Warriors in 4
Syracuse Nationals in 9
Unstable and looking for attention in Lexington, on a post with no connection to the Warriors, or the Celtics, or the Finals.
But, While we’re here, lol, I may as well mention he’s going to need to add a fifth finger maybe even sixth just like the “Phoenix in 4” memes created after the arena fight guy last year.
That didn’t age well…..
Well it wouldn’t be a better person to sale it to. He loves Portland and Oregon from what I can tell.
All the Dame and Addidas jokes would be funny.
Phil Knight would be as worse as Jody Allen at owning the Blazers & he really doesn’t care about Professional Sports in Portland because over the years he kept saying he was going to bring in this team or that team & never followed through
You do know it up to whatever league you want to bring a team to Portland. He can’t just say he wanna bring a team and do it .