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Phil Knight Withdraws Bid for Trail Blazers at 87

5/15/2025

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Summary

Story summary

Phil Knight, the legendary co-founder of Nike, has stepped back from his bid to buy the Portland Trail Blazers, citing his age at 87 as a key factor. With the team now valued between $4 to $5 billion, Knight's decision marks a significant moment in the franchise's future following the formal sale announcement by Paul Allen's estate.

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Story summary

Phil Knight, the legendary co-founder of Nike, has stepped back from his bid to buy the Portland Trail Blazers, citing his age at 87 as a key factor. With the team now valued between $4 to $5 billion, Knight's decision marks a significant moment in the franchise's future following the formal sale announcement by Paul Allen's estate.