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#pounditSaturday, September 24, 2022

Report: Nike co-founder Phil Knight in talks to purchase NBA team

Phil Knight in an Oregon hat

Nov 23, 2019; Tempe, AZ, USA; Nike shoes co-founder and chairman Phil Knight on the sidelines of the Oregon Ducks game against the Arizona State Sun Devils at Sun Devil Stadium. Mandatory Credit: Mark J. Rebilas-USA TODAY Sports

Nike co-founder Phil Knight may soon be an NBA owner, according to a new report.

Knight, along with Los Angeles Dodgers co-owner Alan Smolinisky, is in talks to purchase the Portland Trail Blazers, according to Adrian Wojnarowski of ESPN. Wojnarowski indicated that the ownership group would intend to keep the Blazers in Portland long-term, and has made an offer upwards of $2 billion.

Knight would certainly qualify as a high-profile 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 spent that money in the sports world before, as he has been 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 franchise’s future has lingered since. Knight buying the Blazers would put an end to a great deal of the uncertainty surrounding the team.

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