The Portland Trail Blazers are going on sale, according to a report from ESPN NBA Insider Shams Charania, t
As set forth by Charania, the Estate of Paul G. Allen is starting a formal sales process for the franchise. Allen & Company, along with law firm Hogan Lovells, will lead the sales process. Charania reports that the process is expected to continue into the next calendar year.
Charania also reports that all Estate proceeds from the sale are going to philanthropy, per Allen’s wishes.
In a brief statement on behalf of the Estate, it was noted that the potential sale of the Trail Blazers will not impact the
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