The Portland Trail Blazers are expected to be sold within the next six to 18 months, largely due to the way Paul Allen’s trust was crafted.
“Paul directed that the trust be liquidated upon his death and the assets used to fund his passion projects,” a source said. “None of this is up in the air. The instructions are clear: The sports franchises and everything in the trust must be sold.”
Allen passed away in October 2018 with his sister, Jody Allen, put in charge of his estate.
Bert Kolde, the vice chair of the Blazers, has been put in charge of the auction of the late Allen’s beloved NBA franchise. Kolden’s target price for the Blazers is $3 billion.
Larry Ellison, MacKenzie Scott and Laurene Powell-Jobs have been mentioned as possible majority owners.
“Keep an eye on the losing bidders in the Broncos auction,” one source said. “There are a limited number of billionaire bidders and private-equity firms. The firm in charge of the auction will build a book. That book will be seen by very few eyes.”
