PORTLAND — Paul Allen’s property introduced Tuesday that it has begun the method of promoting the Portland Path Blazers.
The sale of the group is “consistent with Allen’s directive to eventually sell his sports holdings and direct all estate proceeds to philanthropy,” the Path Blazers stated in a press release.
Allen, the billionaire co-founder of Microsoft, died in 2018 at age 65 from issues of non-Hodgkin lymphoma. Since his demise, his sister, Jody Allen, has served as chair of the Path Blazers and the NFL’s Seattle Seahawks and trustee of the Paul G. Allen Belief.
The property stated it has employed the New York funding agency Allen & Firm and the regulation agency Hogan Lovells to guide the gross sales course of, “which is estimated to continue into the 2025-26 basketball season.”
The group famous in its announcement that the NBA Board of Governors should ratify any closing buy settlement.
Along with the Path Blazers and Seahawks, Allen was a co-owner of Main League Soccer’s Seattle Sounders. The assertion stated the announcement doesn’t impression the Seahawks or the property’s 25% curiosity within the Sounders. Neither of these groups is on the market.
Allen purchased the Path Blazers in 1988, telling the The Related Press on the time that “for a true fan of the game, this is a dream come true.”
Since his demise, there was widespread hypothesis surrounding the longer term possession of each the Seahawks and Path Blazers. Allen stipulated in his will the eventual sale of each groups, with the proceeds given to philanthropic endeavors.
