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Tuesday, June 25, 2024

Nike Co-founder Reportedly Bids Over $2B for Portland Trail Blazers

  • Nike co-founder Phil Knight has reportedly bid over $2 billion for the Portland Trail Blazers.
  • MacKenzie Scott may also bid for the team.
Nike co-founder Phil Knight at an NBA game.
Jaime Valdez-USA TODAY Sports

One of the sports world’s most prominent businessmen may finally enter the world of team ownership.

Nike co-founder Phil Knight and Los Angeles Dodgers co-owner Alan Smolinisky have put in an offer to buy the Portland Trail Blazers for more than $2 billion, per Adrian Wojnarowski

  • The team is currently owned by a trust in the name of former Microsoft co-founder Paul Allen, who died in October 2018.
  • Wojnarowski believes Knight’s ownership would keep the Blazers in Portland long-term; there was speculation the team could move to Seattle, but NBA owners reportedly prefer expansion for the city. 

Knight has long been known for his donations to his alma maters, the University of Oregon and Stanford University, but this is his first personal foray into the professional sports world.

Nike’s eight-year, $1 billion apparel deal with the NBA runs through the 2024-25 season. 

Expansion Coming Soon?

In addition to Seattle, the NBA is eyeing Las Vegas as a site for a new team, and the addition of two new teams could happen as early as 2024.

As for the Trail Blazers, Knight may have competition: MacKenzie Scott, the ex-wife of Amazon founder Jeff Bezos, is reportedly considering a bid. Scott would be the NBA’s first female owner.

The team confirmed it had received an offer from Knight, but said that it is not for sale.

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