"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 estate of Microsoft co-founder Paul Allen has begun the process of selling the Portland Trail Blazers, fulfilling his directive to direct proceeds to philanthropy. The Seattle Seahawks and Sounders are not part of the sale.

In alignment with the late Paul Allen’s directive, all proceeds from the sale of the Portland Trail Blazers will go to philanthropic endeavors.