According to an Instagram post from the team’s official account, the Portland Trail Blazers of the NBA said, “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. The estate has selected investment bank Allen & Company and law firm Hogan Lovells to lead the sales process, which is estimated to continue into the 2025-2026 basketball season. The NBA Board of Governors must then ratify a final purchase agreement. This news does not affect the Seattle Seahawks NFL franchise or the estate’s 25% interest in the Seattle Sounders MLS, and neither is for sale.” Publicly traded companies in professional sports ownership include MSG Sports (MSGS), Liberty Braves Group (BATRA), and Manchester United (MANU).
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