Money talks, but it doesn’t buy everything. It might be a big dream to buy an NBA team, but the Portland Trail Blazers are not for sale. The Paul Allen Trust isn’t interested in unloading his team.
Adrian Wojnarowski reports that the Portland Trail Blazers rejected a $2 billion offer to buy the team. This was turned down, but that won’t stop their pursuit to purchase the team.
Blazers statement: An offer was made by Phil Knight. The team remains not for sale.
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.
We’ll have to see if they can finally reach a number that the Trail Blazers will take for the team. At this time it doesn’t seem like $2 billion is enough to sway them at all. Paul Allen Trust obviously doesn’t need the cash injection.