NBA Rumors: Portland Trail Blazers rejects Nike Founder Phil Knight’s $2 Billion team purchase offer

The Trail Blazers are currently celebrating their 50th NBA season. After the sudden death of Paul Allen, the former owner of Portland Trail Blazers in 2018, his sister Jody Allen assumed ownership of the franchise. Additionally, Allen bought the franchise in 1988 for $70 million. Besides, It was in his will that they have to sell the team in the future.

On the other hand, Nike pioneer Phil Knight and Dodgers’ co-owner Alan Smolinsky have already shown interest to buy the franchise and made an offer of $2 Billion!

Phil Knight and Alan Smolinisky have been engaging on the purchase bid with the Paul Allen Trust and league office, sources said. Other prospective groups have done the same, too. The Blazers say they're not for sale, but Knight and Smolinisky are expected to continue pursuit. https://t.co/ZRJSrbQBov

— Adrian Wojnarowski (@wojespn) June 2, 2022

However, the Portland Trail Blazers have officially declared “We are not for sale”.

Blazers statement: An offer was made by Phil Knight. The team remains not for sale.

— Adrian Wojnarowski (@wojespn) June 2, 2022

In a news conference before Game 1 of the NBA Finals, the NBA Commissioner Adam Silver was asked about his thoughts on the offer to buy the Blazers, in response he said, “at some point, the team will be sold. I don’t have any sense of the precise timing.”

According to the Forbes NBA Team Evaluation list, the current value of the Blazers is $2.05 Billion as of October 2021 and currently ranked No. 13 within the NBA franchises. Besides, this wasn’t the best season for the Blazers and it will be groundbreaking if the franchise accepts the offer. Moreover, the fans will be getting custom-made fan shoes from Nike which will be profitable for both entities.

Like the Godfather movie, it will be dramatic to see if Phil knight is going to make them an offer they can’t refuse.