Rumors

Magic Johnson: But my first mistake was when I was actually 19 years old. I had just won the national championship and I beat that dude named Bird—I don’t know if you ever heard of him. And so all the shoe companies came to recruit me to sign with them. This is why this conference is so important. Converse offered me the most money. And so, when you're Black and you're broke, you take the most money, right? So I decided to go with Converse. But Phil Knight came in and he said: “I can't offer you the same amount of money as Converse, but I can give you something called stock.” And I passed on the stock, not knowing anything about stock at 19 years old. You know how much that stock would be worth today, 46 years later? A billion-five. So I wish I was this urban back when I was 19 years old. But let me just say to all of us: Make sure we educate ourselves about equity, about stock. We want to own.

YouTube

Magic Johnson: I realized I messed up when Michael Jordan came out with Air Jordan. That’s when I knew I messed up. I could have owned some of that, right? I messed up big time. But that’s what happens. You’re not educated. And so now I educate myself about everything. That was a huge mistake on my part. Also, my family didn’t know money. See, a lot of times, you're going to be the first generation of wealth and money knowledge in your family. And so it’s important that you're successful, so that your siblings, or people in your family, or friends can follow your lead.

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Nike co-founder Phil Knight said Wednesday that he is not interested in buying the Portland Trail Blazers, who are up for sale. Paul Allen's estate said Tuesday that it has begun the process of finding a new owner for the team. Allen, the billionaire cofounder of Microsoft who died in 2018, stipulated the eventual sale of his sports properties in his will. There was speculation that Knight, the chairman emeritus of Beaverton, Oregon-based Nike Inc., might step in to buy the Blazers because he had expressed interest a few years back. "Five years ago, when I was a younger man, I had a great interest in being a part of the Portland Trail Blazers franchise. However, at my current age, I can confirm that I no longer have interest in acquiring the team," Knight, 87, said in a statement via Nike.

ESPN

Mike Vorkunov: Phil Knight will not try to buy the Trail Blazers. “Five years ago, when I was a younger man, I had a great interest in being a part of the Portland Trail Blazers franchise," he said in a statement. "However, at my current age, I can confirm that I no longer have interest.”

Twitter

Nick DePaula: Sabrina Ionescu debuted a “Thanks Uncle Phil” edition of her Sabrina 1s yesterday, shouting out Nike founder and fellow Oregon Duck Phil Knight. pic.twitter.com/7evplYtj5a

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The harsh truth is that the Oregon side’s roster was never constructed well enough to compete for a title. And with Jody Allen, the owner of the franchise, worried about going into the luxury tax, fans have been wanting the franchise to be sold to Phil Knight. Even Dame recently liked a tweet that suggested that the Blazers should be sold to the $42.1 billion worth businessman.

The Sports Rush

Billionaire Nike co-founder Phil Knight mostly gets what he wants in Oregon, where he is the state’s dominant business figure and philanthropist. Yet for more than a year, he has been unable to get through to Jody Allen, the person who controls the future of the NBA’s Portland Trail Blazers. Allen is the executor of the estate left by her brother, Microsoft co-founder Paul Allen, who died of cancer in 2018 with instructions to sell his assets—then valued at more than $20 billion—and donate the vast majority of the proceeds to charity. A spokesman for Jody Allen calls it “likely the most intricate estate in American history.”

Wall Street Journal

A year ago, as the 2022 NBA Finals began, news broke that Knight and Alan Smolinisky, a real-estate investor and minority owner of the Los Angeles Dodgers, had offered $2 billion to buy the Trail Blazers, one of the estate’s most valuable assets. The 85-year-old Knight is concerned about the future of Portland—his hometown which has recently been beset by social problems—and he wants to cement the team’s future there, according to people familiar with Knight and Smolinisky’s plans.

Wall Street Journal

The bid was rejected without a counteroffer or a phone call with Jody Allen, according to people familiar with their interactions. “Phil Knight and I have not spoken,” Jody Allen said in response to questions from The Wall Street Journal last fall. Instead, she had put Knight and Smolinisky in touch with Bert Kolde, the Trail Blazers vice chair and a longtime associate of Paul Allen, who she says delivered the message that “the Trail Blazers remain not for sale.”

Wall Street Journal

So Knight and Smolinisky tried again, according to a person familiar with their plans. On numerous occasions, including earlier this year, they made it clear to Jody Allen that they still wanted to make a deal. They indicated that they realized the price had gone up and that they were willing to pay more than their initial offer, this person said. Again, Knight’s calls to Jody Allen were diverted to Kolde, and nothing came of the brief discussions.

Wall Street Journal

Nick DePaula: BREAKING: Nike co-founder Phil Knight is pledging a $400 Million investment into Portland’s Black community. The 1803 Fund will “aim to transform current & future generations of Black Portland through investments in education, place, culture & belonging in the Albina community.”

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Ben Golliver: Nike founder Phil Knight congratulates Lakers’ LeBron James. LeBron James: “I’m so happy you were here.” Phil Knight: “I wouldn’t have missed it.”

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Kyle Goon: Bronny and Bryce are hanging out in the Lakers locker room chatting with their dad. LeBron to Bronny: “Y’all were sitting next to Phil Knight, right? He try to recruit you to Oregon?” Bronny says no, but I’m sure @Bill Oram will continue to wonder.

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The relationship between Jordan and Nike has been made into a feature film, directed by Ben Affleck, who also plays Nike co-founder Phil Knight. The story will focus on how Nike’s nascent basketball department signed Jordan in his rookie year, a deal that became perhaps the most lucrative athlete-brand partnership in history.

Front Office Sports