This is a painful loss, not just for the Portland Trail Blazers, but for the NBA.
Paul Allen, who made his money as one of the founders of Microsoft and went on to start Vulcan enterprises, which owns the Trail Blazers as well as the NFL’s Seattle Seahawks, has passed away from his battle with cancer. He was just 65 years old.
“Paul Allen was the ultimate trail blazer – in business, philanthropy and in sports,” NBA Commissioner Adam Silver said. “As one of the longest-tenured owners in the NBA, Paul brought a sense of discovery and vision to every league matter large and small. He was generous with his time on committee work, and his expertise helped lay the foundation for the league’s growth internationally and our embrace of new technologies. He was a valued voice who challenged assumptions and conventional wisdom and one we will deeply miss as we start a new season without him. Our condolences go to his family, friends and the entire Trail Blazers organization.”
Just a couple of weeks ago, Allen had announced his non-Hodgkins lymphoma had returned. It was his third round with the disease, but it was not known that it was already at a life-threatening stage.
After his first battle with the disease, Allen left Microsoft to pursue other interests, which included philanthropy and owning the Trail Blazers and Seahawks. Allen bought the Trail Blazers in 1988 for $70 million from real estate developer Larry Weinberg. Forbes currently estimates the value of the franchise at $1.3 billion.
It is possible this will lead to a sale of the Trail Blazers in not too distant future.
(Do not think this means another owner can swoop in like a vulture and move the team. Aside the fact Commissioner Adam Silver and the league would push back against moving a healthy franchise, the Blazers’ lease at the Moda runs through 2025, with explicit language to keep the team in Portland through 2023 at least.)
Allen’s sister, Ms. Jody Allen, released the following statement:
“Paul’s family and friends were blessed to experience his wit, warmth, his generosity and deep concern. For all the demands on his schedule, there was always time for family and friends. At this time of loss and grief for us – and so many others – we are profoundly grateful for the care and concern he demonstrated every day.”
Our thoughts and condolences go out to Allen’s family and friends.