Nike Founder Bids $2B for Portland Trail Blazers

In today’s edition of the Front Office Sports newsletter, we’re taking a look at one of the world’s most prominent businessmen eyeing NBA team ownership.

Nike Co-Founder Reportedly Bids Over $2B for Portland Trail Blazers

One of the sports world’s most prominent businessmen may finally enter the world of team ownership.

Nike co-founder?Phil Knight?and Los Angeles Dodgers co-owner?Alan Smolinisky?have put in an?offer?to buy the Portland Trail Blazers for more than $2 billion, per?Adrian Wojnarowski.?

• The team is currently owned by a trust in the name of former?Microsoft co-founder Paul Allen, who died in October 2018.
• Wojnarowski?believes?Knight’s ownership would keep the Blazers in Portland long-term; there was?speculation?the team could move to?Seattle, but NBA owners reportedly prefer expansion for the city.?

Knight has long been known for his donations to his alma maters, the University of Oregon and Stanford University, but this would be his first personal foray into the professional sports world.

Nike’s eight-year,?$1 billion?apparel?deal?with the NBA runs through the 2024-25 season.?

Expansion Coming Soon?

In addition to Seattle, there's been talk that the NBA is eyeing?Las Vegas?as a site for a new team, and the addition of two new teams could?happen?as early as 2024

League commissioner Adam Silver has acknowledged that expansion may happen down the line, but says that it's not being discussed at this time.

As for the Trail Blazers, the team?confirmed?that it received an offer from Knight, but said the team is not for sale.

If that changes, Knight may have competition:?MacKenzie Scott, the ex-wife of Amazon founder Jeff Bezos, is reportedly considering a bid. Scott would be the NBA’s first female owner.

Conversation Starters

• The bidding war for the Denver Broncos is down to four groups with second-round bids due on Monday, and proposals are likely to top $4.5 billion.
• The 2022 U.S. Women’s Open at Pine Needles Lodge & Golf Club in Southern Pines, North Carolina will have a record $10 million purse .
• The Boston Red Sox will be the first MLB team to offer in-market games through streaming as its longtime broadcaster NESN is launching a streaming platform.
• On Thursday, Mark Jones, Mark Jackson, and Lisa Salters became the first all-Black broadcast team in NBA Finals history.
• Ohio State football coach Ryan Day believes the program needs $13 million in NIL money "to keep its roster together," according to Cleveland.com.

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