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Nike founder Phil Knight was very interested in purchasing the Portland Trail Blazers three years ago. Now that the franchise is actually for sale, he has changed his mind.

“Today the Estate of Paul G. Allen is announcing the start of a formal process to sell the Portland Trail Blazers. This is an expected milestone following Paul’s death, who had directed his sports holdings to be sold with all Estate proceeds being directed to philanthropy. Please find below a statement from the Estate.”