Nike co-founder Phil Knight in talks to buy NBA team
Nike co-founder Phil Knight could soon own the NBA, according to a new report.
Knight, along with Los Angeles Dodgers co-owner Alan Smolinisky, is in talks to buy the Portland Trail Blazers, according to ESPN’s Adrian Wojnarowski. Wojnarowski indicated that the ownership group intends to keep the Blazers in Portland for the long term and has made an offer of more than $2 billion.
Nike founder Phil Knight and Dodgers co-owner Alan Smolinisky have made a written offer of more than $2 billion to buy the Portland Trail Blazers, sources tell ESPN. Discussions are ongoing with the Paul Allen Trust which oversees the ownership of the team. Story soon.
— Adrien Wojnarowski (@wojespn) June 2, 2022
Knight would certainly be considered a top NBA owner. The 84-year-old co-founded the company that would later become Nike in 1964, which has since made him exceptionally wealthy. He has already spent that money in the world of sports, as he was a major benefactor to his alma mater Oregon.
The Blazers have been owned by a trust in the name of former owner Paul Allen since Allen’s death in 2018. Speculation about the future of the franchise has persisted ever since. Knight buying the Blazers would end much of the uncertainty surrounding the team.