"The estate of Paul G. Allen today announced it has commenced a formal sales process for the Portland Trail Blazers NBA franchise, consistent with Allen's directive to eventually sell his sports holdings and direct all estate proceeds to philanthropy.

In alignment with the late Paul Allen’s directive, all proceeds from the sale of the Portland Trail Blazers will go to philanthropic endeavors.

The Trail Blazers last reached the postseason in 2020-21, when nine-time all-state Damian Lillard helped it to the first round of the playoffs.