As the co-founder of Nike, Phil Knight built his career around the world of sports. Nike is ubiquitous. Chances are, you’ve probably worn their shoes or a hoodie or something similar. Knight also built his vast wealth around sports—thanks to his work with Nike, he has a reported $47.2 billion net worth, per Forbes.
With all that money, it’s his next really ambitious endeavor that is already sending massive shockwaves around the sports world.
According to a report from ESPN’s Adrian Wojnarowski, Knight and Los Angeles Dodgers co-owner Smolinisky have submitted a $2 billion written offer to become co-owners of the Portland Trail Blazers. It’s worth noting that the purchase would tie for the third-most-expensive purchase of an NBA franchise in the league’s history.
It would not only be Knight’s first stake in the ownership of a professional American sports team; it might even help keep the Blazers in Portland.
The presence of Phil Knight in the proposed ownership group speaks to its desire to keep the Blazers in Portland and move the franchise forward there. Again, talks are ongoing on the possible purchase of the franchise. https://t.co/6rJ0Rk6AFI
— Adrian Wojnarowski (@wojespn) June 2, 2022
Knight, of course, was born and raised in Portland. He continues to live in the area and Nike maintains its headquarters in nearby Beaverton, Oregon.
Once news of the potential deal broke, NBA fans and analysts from all over were taken aback that the sports apparel mogul was making a foray into team ownership.