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Nike founder Phil Knight and Los Angeles Dodgers part-owner Alan Smolinisky are reportedly in serious talks to acquire the Portland Trail Blazers, sources with knowledge of the situation told ESPN's Adrian Wojnarowski on Thursday (June 2).
Knight and Smolinisky have reportedly delivered a written offer of more than $2 billion and have discussed the purchase with the Paul G. Allen Trust, which currently oversees the Blazers, and plan to continue their push to purchase the franchise, the source confirmed.
Knight, a Portland native, could expand his sports presence in his home state, with Nike, Inc. headquartered near Beaverton, which is within the Portland metropolitan area and continuing to serve as one of the top alumni donors to the University of Oregon.
The 84-year-old is among the top 25 richest people in the United States with a net worth of more than $50 billion and stepped down as chairman and CEO of Nike in 2016 after 52 years leading the company.
Smolinisky, along with Robert L. Plummer, joined the Guggenheim Baseball Management group -- which purchased the Dodgers in 2012 -- in 2019.
The 42-year-old had previously found success in commercial real estate and investing prior to joining the Dodgers' ownership group.