The Portland Trail Blazers sit at 27-29 and ninth in the Western Conference through the first half of the 2025-26 season. They are led off the court by the returning Damian Lillard, who signed a three-year, $42 million deal in July for his second stint in Portland, though he has not yet played this season while recovering from a torn Achilles tendon.
With Lillard sidelined, Deni Avdija has taken over as the primary scoring anchor for the Trail Blazers. Avdija is having a breakout season, averaging 25.2 points per game and leading the team in both scoring and assists.
But the season has been hit by major off-court drama. In October, head coach Chauncey Billups was arrested for his alleged role in an illegal gambling ring. The NBA placed him on indefinite leave, and Tiago Splitter has since taken over as interim coach. This follows a disappointing 2024-25 season where the Blazers went 36-46 and finished 12th in the West, missing the playoffs for the fourth year in a row.
The turbulence on the court mirrors the uncertainty surrounding ownership as the team is getting closer to a sale after 37 years under the same ownership.
Allen estate officially puts Trail Blazers on the market
Microsoft co-founder Paul Allen bought the Trail Blazers in 1988 for $70 million, telling The Associated Press at the time that “for a true fan of the game, this is a dream come true”.
He died in 2018 at age 65 from complications of non-Hodgkin lymphoma. His will directed that his sports holdings be sold, with the proceeds going to philanthropy. Since his death, his sister Jody Allen has served as chair of the team and trustee of the Paul G. Allen Trust.
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In May 2025, the estate said it had begun a formal sale process, hiring Allen & Company and Hogan Lovells to manage it. ESPN’s Shams Charania wrote, “Estate of Paul G. Allen is starting a formal sales process for the Trail Blazers, sources tell ESPN. Allen & Co and law firm Hogan Lovells leads sales process, is estimated to continue into 2025-26, with all Estate proceeds going to philanthropy.”
Estate of Paul G. Allen is starting a formal sales process for the Portland Trail Blazers, sources tell ESPN. Allen & Co and law firm Hogan Lovells leads sales process, is estimated to continue into 2025-26, with all Estate proceeds going to philanthropy, per Paul’s wishes. pic.twitter.com/VmRl6NZHLf
— Shams Charania (@ShamsCharania) May 13, 2025
In August 2025, Carolina Hurricanes owner Tom Dundon agreed to buy the Trail Blazers for $4.25 billion. His investment group includes executives from Blue Owl Capital and Collective Global, as well as the founders of Panda Express. The sale is expected to close in the next month if the NBA approves officially.
That price was driven up by the record-breaking $6.1 billion sale of the Boston Celtics earlier in 2025. This deal represents a 6,000% return on Paul Allen’s original $70 million investment. As he directed, all proceeds from the sale will go to charity rather than to his sister, Jody.
The estate clarified that the Seattle Seahawks, which Allen also owned, would not be part of this sale, nor would the 25% stake in MLS’ Seattle Sounders. However, with the Blazers’ sale nearing completion, attention will soon turn to the Seahawks’ future ownership.
