"The estate of Paul G. Allen today announced it has commenced a formal sales process for the Portland Trail Blazers NBA franchise, consistent with Allen's directive to eventually sell his sports holdings and direct all estate proceeds to philanthropy.

The Portland Trail Blazers announced Tuesday the estate of late owner Paul Allen "commenced a formal sales process" for the franchise.

Paul Allen’s estate announced that it has begun the process of selling the Portland Trail Blazers. Allen bought the Trail Blazers in 1988, telling the The Associated Press at the time that “for a true fan of the game,