The Trail Blazers issued a statement Thursday in response to a report detailing a massive bid from Nike founder Phil Knight and Dodgers co-owner Alan Smolinisky to buy the team.
Hours after ESPN’s Adrian Wojnarowski reported Knight and Smolinisky offered over $2 billion to purchase the franchise, a Blazers spokesperson cxonfirmed a bid was placed, but the team is currently not for sale.
“An offer was made by Phil Knight. The team remains not for sale,” the statement read, per Wojnarowski.
With the reported bid apparently off the table, the Blazers will remain under the ownership of the Paul G. Allen Trust for the time being. Allen, who passed away in 2018 at age 65, purchased the team in 1988; the trust is currently run by the Microsoft co-founder’s sister, Jody Allen.
The Trail Blazers finished the 2021–22 season with a 27–55 record, missing the playoffs for the first time since the 2012–13 campaign. Coming into the season, Forbes ranked Portland as the 13th-most valuable NBA franchise at $2.05 billion.
