Storyline: Portland Trail Blazers Sale?

14 rumors in this storyline

Portland City Commissioner Nick Fish said on Thursday that he expects the city’s NBA team to be sold in the wake of owner Paul Allen’s death last year. Fish is concerned that new Trail Blazers ownership might seek to relocate the team. “The clear sense I’ve received from Blazers management is that this team will be put on the block at some point,” Fish said. “I’ve been told the estate will take about five to six years to be settled. We expect the team will be put on the market.”

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A new​ figure has​ emerged​ to​ lead​ the Trail Blazers in the wake​ of owner​ Paul​ Allen’s passing:​ his​ sister,​​ Jody Allen. The Athletic has learned that Ms. Allen has been decisive in ruling on a variety of major decisions for the team, which as of now, she has no intention of selling. “Nothing is for sale right now,” said Chris McGowan, the Blazers president and CEO of Vulcan Sports and Entertainment, which also includes the Seattle Seahawks. “We are operating business as usual and Neil and I are collaborating regularly with her on all major organizational decisions.”

The established line of power — McGowan and Olshey reporting to Ms. Allen (which also includes Olshey and McGowan working with Bert Kolde, Allen’s right-hand man and director of the Blazers’ board) — becomes even more important as Saturday marks the first red-letter date in the NBA season: the first day players who were signed in the summer can be traded. “Jody has empowered me and Neil to do our jobs,” McGowan said. “She makes the final decisions, but there has been no handcuffs … she has been a quick decision maker.”

There would be plenty of buyer interest in the Seahawks and Portland Trail Blazers if either goes up for sale, but there are no actual reasons to relocate those teams, two specialists in franchise acquisitions said Tuesday. In fact, Charles H. Baker, the New York-based co-chairman of the Sports Industry Group at the O’Melveny & Myers law firm, said it’s entirely possible billionaire Microsoft founder Paul Allen put conditions in his will blocking relocation if the teams are sold. Baker, who recently represented hedge fund investor David Tepper in his $2.275-billion purchase of the NFL’s Carolina Panthers, said he has no direct knowledge of the Seahawks or Blazers situations but such stipulations aren’t uncommon.

An NBA source said Tuesday the league has no interest at all in the Blazers relocating to Seattle, shooting down one of the early rumors that surfaced after Allen died Monday of non-Hodgkins lymphoma at age 65. The Blazers’ lease with the City of Portland at the Moda Center runs through at least 2025, the team is making money — unlike struggling franchises in Memphis and New Orleans — and the league also is uninterested in repairing its image in Seattle by hurting another Northwest city.
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April 24, 2019 | 8:55 pm EDT Update
The FBI is investigating whether the longtime business manager of Lakers point guard Lonzo Ball and his family defrauded them of millions of dollars, according to two law enforcement officials. Until recently, Ball said he and his family had no idea that Gregory Alan Foster, who he described as “like my second dad,” had served time in federal prison for taking part in a scheme that deprived investors of $3.735 million.
Storyline: Big Baller Brand
Authorities say the investigation is focused on allegations included in a lawsuit filed in Los Angeles County Superior Court this month by Lonzo Ball and Big Baller Brand. The suit alleges Foster took more than $1.5 million out of the company’s bank accounts and accepted “substantial undisclosed referral fees” from at least eight loans he arranged on behalf of the company.