Phil Knight — not a man known for his patience — is waiting.
The Nike founder still wants the chance to buy the Portland Trail Blazers to ensure they stay in Portland, reports Rachel Bachman of the Wall Street Journal. However, the team remains unavailable. More than a year ago Knight and Dodgers co-owner Alan Smolinisky reportedly offered more than $2 billion to buy the Trail Blazers. Jody Allen, who currently runs the team on behalf of her late brother Paul Allen’s estate, said there is no plan to sell the team right now, and it could be years.
Statement from Jody Allen pic.twitter.com/oAezfb398o
— Portland Trail Blazers (@trailblazers) July 5, 2022
Knight continues to try and buy the team, the Journal reports.
So Knight and Smolinisky tried again, according to a person familiar with their plans. On numerous occasions, including earlier this year, they made it clear to Jody Allen that they still wanted to make a deal. They indicated that they realized the price had gone up and that they were willing to pay more than their initial offer, this person said. Again, Knight’s calls to Jody Allen were diverted to Kolde [Bert Kolde is the Executive Vice President of Sports Strategy at Vulcan Inc., which owns the Blazers and Seahawks], and nothing came of the brief discussions.
A few months ago, Smolinisky even sent a handwritten letter to Jody Allen seeking common ground and saying he and Knight would love to discuss the Blazers with her, according to a person familiar with the matter. In response, Smolinisky received an email from someone replying on Jody Allen’s behalf with a familiar message: Paul Allen’s sports teams aren’t on the market.
Paul Allen died of cancer in 2018 and some reports say his will requires the Trail Blazers — as well as the NFL’s Seahawks — must be sold within 10 years of that date, with the money from the sales going to a variety of charitable causes. We are halfway into that window.
In the case of the Trail Blazers, it would be wise to wait until the new national broadcast rights deal — which is expected to double, at least, the league’s television revenue — is locked in, raising the franchise value. Values have already gone up, with the Phoenix Suns being valued at $4 billion when Mat Ishbia bought them last December.
In the short term, the Trail Blazers and their fans are focused on the NBA Draft, where they have the No. 3 pick but are reportedly open to trading that for the right veteran to put next to Damian Lillard.