1. Nike stock price when Phil Knight offered to buy the Blazers in June of 2022: $123
2. Nike stock price of when the Blazers went up for sale in May of 2025: $56
3. During that same time Phil Knight made almost $4 billion in philanthropic donations.
Major Philanthropic Gifts (2022–2025)
- OHSU Knight Cancer Institute ($2 Billion, 2025): Topped the OregonLive.com annual philanthropy list for 2025. The funds support clinical trials, basic research, and patient services like counseling and nutritional care.
- University of Oregon ($500 Million+): During this period, the Knights continued their heavy support of his alma mater, including a $500 million gift for scientific research.
- Stanford University ($400 Million): Another significant gift was directed toward Stanford, where Knight earned his MBA.
- 1803 Fund: $400 million to establish a massive initiative dedicated to supporting the Black community in Portland's historic North and Northeast neighborhoods.
4. Phil Knight is 87 years old. One son has sadly passed, the other son is the CEO of LAIKA studios. His relationship with his daughter is reported as strained or nonexistent. (She's not even mentioned in his Shoe Dog book.)
5. The Blazers were not for sale when Phil Knight offered to buy them.
6. This who all was involved in selling the Blazers for the Paul Allen Trust:
Legal Counsel for the Seller (Paul G. Allen Estate)
The estate of Paul G. Allen was represented by
Latham & Watkins LLP.
- The firm's M&A team advised on the completed sale of the franchise to the ownership group led by Tom Dundon.
- The deal team was led by partners Matt Eisler and Russell Hedman.
- Additional legal support was provided by Hogan Lovells, which was initially hired in May 2025 to lead the formal sales process alongside the investment bank Allen & Company.
7. The Paul Allen Trust was one of the most complicated ever.
The Paul Allen Trust is exceptionally complex primarily because it functions more like the
dissolution of a major corporation than a typical family inheritance. Managing an estate valued at over
$20 billion involves unwinding a sprawling empire of non-liquid assets, intricate tax liabilities, and private management structures.
Key Drivers of Complexity
- Diverse and Non-Liquid Assets: The estate includes a massive collection of hard-to-value assets, such as professional sports teams (Seahawks and Trail Blazers), specialized technology patents, world-class art, and luxury real estate.
- Vulcan Inc. Integration: Allen’s wealth was managed through Vulcan Inc., a private family office where personal and business interests were deeply intertwined, making it difficult to separate individual assets from corporate holdings.
- Significant Tax Audits: Due to the estate's size, it is subject to intensive state and federal IRS audits. Legal experts at Haimo Law note that settling the taxes for just one subsidiary could take up to four years.
- Privacy of a Living Trust: Allen utilized a revocable living trust established in 1993. Unlike a will, the specific terms and instructions of a trust remain confidential, which can complicate public understanding of his succession plans.
- Massive Philanthropic Pledges: As a signatory of the Giving Pledge, Allen committed the majority of his fortune to charity. Unwinding the estate requires carefully transferring billions to various foundations while maintaining the operations of his scientific and cultural institutes.
So lets review....
Uncle Phil not as rich or young as you used to be. Still made significant financial donations. Maybe didn't have the bank to also buy the Blazers or family who wanted to own and run it.
While Jody was the head of the PA Trust, it was far to complicated, detailed, and explicit to sell the team in order "Fuck over Portland."
