"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.

May 13, 2025—that the Portland Trail Blazers are up for sale. This is part of a long term plan by the owner of the NBA franchise, the Paul G. Allen Estate, to sell all of its sports holdings, fully moving its assets into the philanthropic sector.

Estate of Paul G. Allen is starting a formal sales process for the Portland Trail Blazers, sources tell ESPN. Allen & Co and law firm Hogan Lovells leads sales process, is estimated to continue into 2025-26, with all Estate proceeds going to philanthropy, per Paul’s wishes. pic.twitter.com/VmRl6NZHLf