Nike founder Phil Knight was very interested in purchasing the Portland Trail Blazers three years ago. Now that the franchise is actually for sale, he has changed his mind.
Knight said in a statement Wednesday that he no longer has interest in purchasing the Trail Blazers. The 87-year-old cited his age as the biggest reason for not pursuing a purchase.
“Five years ago, when I was a younger man, I had a great interest in being a part of the Portland Trail Blazers franchise,” Knight said in a statement to The Oregonian. “However, at my current age, I can confirm that I no longer have interest in acquiring the team.”
Knight made a $2 billion bid for the Blazers in 2022. At that time, Jody Allen, the controlling owner on behalf of Paul Allen’s estate, made clear that the franchise was not for sale, and nothing further came of Knight’s bid.
Things have changed, as the Blazers were put up for sale on Tuesday. That sparked speculation that Knight may make another bid now that the franchise is clearly on the market, especially since he would have been seen as unlikely to try to move the franchise out of Portland.
Knight’s net worth is estimated at over $30 billion, so he could easily have afforded a bid. Instead, the team’s future remains murky, and it is not clear who might be interested in buying the team, or whether their long-term future lies in Portland.
