The valuation of the Trail Blazers is at least $3.5 billion! The condition for selling the team is to keep it in Portland, and the owner won't receive a penny.

The seat behind the basket at the Moda Center for the Trail Blazers—specifically, the second seat in the front row of section 118 by the aisle—has been reserved for the owner since the venue opened. Before 2018, that seat was occupied by Paul Allen, co-founder of Microsoft. After Paul Allen passed away in October 2018 due to complications from lymphoma, the seat became his sister's—Jody Allen.

Jody Allen does not reside in Portland; each season, she flies from Seattle to Portland to watch games, making this trip about 30 times. Before games, she even discusses the starting lineup with head coach Chauncey Billups, appearing much like any other NBA team owner. In fact, she seems more invested than many owners.

However, from another perspective, Jody Allen is not technically an owner. Strictly speaking, she is the executor of Paul Allen's estate and the sole trustee of his assets. She represents the Trail Blazers at NBA board meetings and the Seahawks at similar NFL meetings.According to the terms of Paul Allen's will, she ultimately must sell both teams. A prerequisite for selling the Trail Blazers is that they remain in Portland. Furthermore, when Jody Allen sells the team, she will not receive a single penny.

This makes her relationship with the two teams one of the most peculiar in the history of American sports. "I certainly have never dealt with a situation like this," said Adam Silver, who has served as NBA president since 2014. "Before becoming president, I worked in the league for over twenty years and had never encountered anything like it."

When Paul Allen passed away, his assets were estimated to be around $20 billion. This made his estate the largest individual estate in American history, possibly even the largest in the world. Moreover, the handling of this estate is exceptionally complex. "There are still many things to sort out," said lawyer Israel from Seattle, who has represented the Allen family and its interests since 1985.

As Israel noted, the will stipulates that all of Allen's assets must be liquidated, with "the vast majority" of the proceeds going to charity. Almost all of the estate has been sold, including most of the valuable art collection, real estate, a company that produced the world's largest wingspan aircraft, a cinema in Seattle, and a 414-foot yacht named "Octopus." However, seven years after Paul’s death, the Trail Blazers and Seahawks have still not been sold.

In March of this year, the Celtics, valued at $6.1 billion, were sold. Following this announcement, the valuations of all other teams skyrocketed. A few weeks later, the Trail Blazers issued another brief statement: the team is officially up for sale. Subsequently, the Buss family agreed to sell the Lakers, valued at $10 billion.Currently, the valuation of the Trail Blazers is between $3.5 billion and $4 billion.

The lease for the Moda Center will expire in 2030, and regardless of who buys the Trail Blazers, it is expected they will pressure the state of Oregon for funding to build a new venue. NBA president Adam Silver recently stated, "One factor is that the city of Portland may need a new venue, so this will be one of the challenges any new owner faces."

Oregon Governor Tina Kotek and Portland Mayor Ted Wheeler sent a joint open letter to Silver, suggesting that a major renovation of the Moda Center would suffice.