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[Saba Sports News] Nike co-founder Phil Knight was once eager to buy the Portland Trail Blazers, but now that the team is officially for sale, he’s no longer interested.
In a statement to The Oregonian on Wednesday, the 87-year-old Knight said he’s stepping away from any pursuit of the franchise due to his age.
“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. “However, at my current age, I can confirm that I no longer have interest in acquiring the team.”
Knight previously made a \$2 billion offer for the Blazers in 2022, but Jody Allen — the team’s controlling owner through the Paul Allen estate — stated the franchise was not for sale at the time. That offer ultimately went nowhere.
With the Blazers now officially on the market as of Tuesday, speculation swirled that Knight might reignite his interest, especially given his deep ties to Oregon and the likelihood that he would keep the team in Portland.
Despite his estimated net worth of over \$30 billion, Knight has opted not to reenter the bidding.
The Blazers’ future remains uncertain — both in terms of ownership and location — as the search for a buyer begins.