The estate of late Portland Trail Blazers owner Paul Allen has formally put the team up for sale with the proceeds going to philanthropic endeavors, the team announced Tuesday. Allen died from cancer in 2018 and his will called for the franchise to be sold "at some point,

Nike co-founder Phil Knight no longer has any interest in buying the Portland Trail Blazers despite putting in an offer to purchase the NBA franchise for over $2 billion in 2022