PORTLAND — Paul Allen’s estate announced Tuesday that it has begun the process of selling the Portland Trail Blazers.

The sale of the team is “consistent with Allen’s directive to eventually sell his sports holdings and direct all estate proceeds to philanthropy,” the Trail Blazers said in a statement .

Allen, the billionaire co-founder of Microsoft, died in 2018 at age 65 from complications of non-Hodgkin lymphoma. Since then, his sister, Jody Allen, has served as chair of the Trail Blazers and the NFL’s Seattle Seahawks and trustee of the Paul G. Allen Trust.

The estate said it has hired the New York investment firm Allen & Company and the law firm Hogan Lovells to lead the sales process, “which is estimated to continue into the 2025-26 basketball season.”

The team noted in its an

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