The Portland Trail Blazers have hired a bank to begin the long-expected process of selling the NBA team.
The Blazers said in a social media post on Tuesday that the team had hired Allen & Co. The team is currently owned by the estate of late owner Paul Allen, who died in 2018. Allen asked that his sports teams—mainly the Blazers and NFL’s Seattle Seahawks—be sold after his death. The NBA team’s statement said that this news doesn’t affect the status of the Seahawks.
Sportico values the Trail Blazers at $3.6 billion, according to its latest NBA valuations. That ranks 23rd in the 30-team league.
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