The billionaire owners will be looking to sell the NBA franchise while also owning a team in both the NFL and MLS, making a statement on their plans for the Seattle SeahawksJody Allen is looking to sell the Trail Blazers, with all proceeds going to philanthropic endeavors

The owners of the Portland Trail Blazers have announced that they will look to sell the franchise with all proceeds going towards philanthropic endeavors, with the same individuals announcing that they will not be selling the Seattle Seahawks or their stake in Seattle Sounders FC.

The former was the wish of the late Microsoft co-founder Paul Allen, who passed away in 2018, with his estate now confirming that they will indeed explore a sale, which is expected to take several months, if not over a year to complete. The team had announced the news in a statement on their social media platforms.

In a statement, the Trail Blazers said: “The estate of Paul G. Allen today announced it has commenced a formal sales process for the Portland Trail Blazers NBA franchise, consistent with Allen’s directive to eventually sell his sports holdings and direct all estate proceeds to philanthropy.

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“The estate has selected investment bank Allen & Company and law firm Hogan Lovells to lead the sales process, which is estimated to continue into the 2025-26 basketball season. The NBA board of governors must then ratify a final purchase agreement.”

The estate of Allen’s had been rumored to be selling all three of its franchise ownership stakes, alongside the Seahawks in the NFL and Major League Soccer’s Sounders.

The Seahawks have long been seen as the next NFL franchise to become available, after the Washington Commanders recently sold for $6 billion.

The Seahawks, valued at over $5 billion, will not be for sale

However, the statement has confirmed that the Seahawks, as well as the Sounders, are not for sale with no current plans for this to change.

The statement reads: “This news does not affect the Seattle Seahawks NFL franchise or the estate’s 25% interest in the Seattle Sounders MLS, and neither is for sale.”

A co-founder of Microsoft who had hailed from the Seattle area, Allen had purchased the Trail Blazers in 1988 for $70 million, being the primary owner up until his death. The team has been run by his estate ever since, with his sister, Jody Allen, leading the way.

Jody has, in recent years, become much more involved in operations with the Seahawks, having played a part in the firing of Pete Carroll last year and hiring Mike Macdonald.

Paul Allen and quarterback Russell Wilson hoisting the Super Bowl trophy

Paul Allen had owned the Seahawks since 1997, seeing the team go to three Super Bowl’s and lifting the Lombardi Trophy in 2014 when Russell Wilson’s team defeated Peyton Manning’s Denver Broncos in dominant fashion.

While the Trail Blazers are valued at around $3.5 billion, the Seahawks are believed to be significantly more than this, at around $5.45 billion.

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