The estate of Paul Allen announced its intention to sell the Portland Trail Blazers, hiring Allen & Company and Hogan Lovells to facilitate the process, expected to extend into the 2025-26 NBA season. Proceeds from the sale will be directed toward philanthropic efforts, honoring Allen’s wishes, following his ownership since purchasing the team for $70 million in 1988. The Blazers, valued at $3.5 billion by Forbes, have not reached the NBA Finals since 1992, despite making the playoffs 22 times since then; the estate will retain ownership of the Seattle Seahawks and a stake in the Seattle Sounders.
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Damian Lillard has signed a three-year, $42 million contract with the Portland Trail Blazers, which includes a player option for the 2027-28 season and a no-trade clause, while he recovers from a torn Achilles that will sideline him for the 2025-26 season. After requesting a trade, Lillard was moved to the Milwaukee Bucks, who utilized the waive-and-stretch provision on his contract, allowing him to potentially reunite with the Blazers in the future. Need More Context? 🔎
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