Nike Co-Founder Phil Knight Says He Isn't Interested in Buying Trail Blazers Amid Sale
Nike co-founder Phil Knight will not make a bid to buy the Portland Trail Blazers, the 87-year-old said in a statement shared Wednesday by The Athletic's Mike Vorkunov.
“Five years ago, when I was a younger man, I had a great interest in being a part of the Portland Trail Blazers franchise," Knight said. "However, at my current age, I can confirm that I no longer have interest.”
Knight was part of a group that reportedly made a $2 billion-plus offer rejected by the Blazers in 2022. Franchise leadership said at the time the franchise was "not for sale."
The estate of Paul Allen announced on Tuesday that the Blazers would begin a formal process to sell the franchise.
Allen, a co-founder of Microsoft, bought the Trial Blazers in 1988. He died in 2018 at age 65 due to complications of non-Hodgkin's lymphoma.
Jody Allen, trustee of the Paul G. Allen Trust, has chaired the Blazers and the Seattle Seahawks since the death of her brother.
The decision to sell the Blazers will not impact the Seahawks or the Seattle Sounders FC, in which the trust has a 25 percent stake.
The Blazers statement said the sale process is "estimated to continue into the 2025-26 basketball season."
Knight's 2022 offer was made alongside Los Angeles Dodgers part-owner Alan Smolinisky for more than $2 billion, ESPN's Adrian Wojnarowski reported at the time. A Blazers spokesperson later confirmed Knight had made an offer.
According to Wojnarowski, Knight had a long-term desire to keep the team in Portland thanks to his ties to the region, including Nike's campus in nearby Beaverton and his attendance at the University of Oregon.
Forbes lists Knight as the 58th richest person in the world with an estimated net worth of $30.4 billion. At the time of Knight's initial offer for the Blazers, he was ranked by Forbes as the 26th richest person in the world with a net worth of $47.5 billion.
The Blazers hold a current valuation of $3.50 billion by Forbes.
