Phil Knight won't buy Portland Trail Blazers
Digest more
Nike co-founder Phil Knight is no longer interested in purchasing the Portland Trail Blazers, he said in a statement Wednesday.
“Today the Estate of Paul G. Allen is announcing the start of a formal process to sell the Portland Trail Blazers. This is an expected milestone following Paul’s death, who had directed his sports holdings to be sold with all Estate proceeds being directed to philanthropy. Please find below a statement from the Estate.”