NBA Rumors: Blazers 'Exploring' Possible Sale of Franchise amid Arena Lease Talks

The Portland Trail Blazers are reportedly "exploring" an auction to sell the franchise, according to John Canzano of JohnCanzano.com.

Canzano further explained the Blazers plan to hold an auction in the next six to 18 months on behalf of the Paul G. Allen Trust. Allen died in 2018, but Vice Chairman Bert Kolde will reportedly lead the efforts on the sale.

Despite the uncertainty with ownership, the Blazers are planning to remain in Portland by renewing their lease that expires in 2025.

"The negotiations are a priority for both sides," a source told Canzano.

The current lease ensures the team stays through at least 2023, but there are "productive discussions" about completing a new deal.

The sale will still be one to watch with a valuation of $2.05 billion coming into the year, ranked 13th among NBA teams, per Forbes.

The Minnesota Timberwolves—one of the lowest-valued teams in the league—sold for $1.5 billion last summer to a group led by Marc Lore and Alex Rodriguez. We are also only a few years removed from the record $2.35 billion sale of the Brooklyn Nets to Joseph Tsai. 

With an open auction, the Trail Blazers could have a lot of interested parties looking to buy the team.

The downside is it comes at a poor time of on-court play for the organization. Portland had reached the playoffs in eight straight years before a disappointing 2021-22 campaign, producing the third-worst record in the Western Conference (27-54). The squad is headed toward a rebuild after trading away C.J. McCollum and others, leaving few notable players around Damian Lillard.

It's still a top NBA franchise with a rich history and a loyal fanbase that should be a hot commodity when available.