Who is the owner of the Portland Trail Blazers? All you need to know
The owner of the Portland Trail Blazers has drawn attention as there are rumors circulating that the team might be sold.
Despite having many fantastic players throughout franchise history, the Trail Blazers haven't been able to achieve great results lately. Their best result in the past two decades is reaching the Western Conference Finals, which is not good enough.
This article will reveal the owner of the Portland Trail Blazers and everything else you need to know about the team and the rumors of its sale.
Majority owner of the Portland Trail Blazers is Jody Allen
The majority owner of the Portland Trail Blazers is Jody Allen, a successful businesswoman who is also in charge of the Seattle Seahawks, a popular NFL team.
Back in 1986, Jody and her brother Paul founded Vulcan, a company that would later become worth billions of dollars. Paul Allen, who died in 2018, purchased the Trail Blazers in 1988 for $70 million.
After Paul's death, his sister Jody inherited the team. Due to this, there have been many controversies regarding ownership as many fans believe that the businesswoman hasn't done a great job with the team.
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A few months ago, there were even rumors of Jody not returning Damian Lillard's calls and emails, which was very unusual.
Due to these rumors, there was a lot of pressure on Jody Allen to sell the Portland Trail Blazers. In fact, Phil Knight, the founder of Nike, offered to purchase the team for $2 billion in June 2022.
However, Allen refused to sell the team, saying that her long-term focus is building a championship team.
Jody Allen's net worth in 2022
Jody Allen's net worth is estimated at $20.3 billion in 2022, making her one of the wealthiest people in the world. While the Trail Blazers haven't achieved a lot of success lately, the truth is that the team has been very profitable.
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According to Forbes, the Trail Blazers had a revenue of $291 million in the 2021-22 season, despite missing the playoffs. The team also had $81 million of operating income.
Considering how profitable the team is, it's very unlikely that Jody Allen will sell it anytime soon. Furthermore, the Trail Blazers have a decent record this season and could have a deep playoff run, which would further increase the value of the team.