128 Comments
Jun 5, 2023·edited Jun 5, 2023

Hey Rip City....want to really protest? Vote with your feet and leave the Moda Center empty and that team will be sold in less than a month.

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A very nice read to start my week....after reading the article twice carefully I will conclude that a sludgehammer is needed here.

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Jun 5, 2023·edited Jun 5, 2023Liked by John Canzano

Paul Allen’s last will and testament does not offer specifics on the late billionaire’s assets, but rather points to a trust established decades ago. Allen’s six-page will was filed with King County on Oct. 24, the same day his sister, Jody Allen, announced she was designated the executor and trustee of his estate. The will puts his assets into a 25-year-old living trust, where their disposition is not expected to be made public. Jody Allen said that “I will do all that I can to ensure that Paul’s vision is realized, not just for years, but for generations.” There you have it in a nutshell. There are also successor plans if Jody dies. The word "generations" is big.

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Jun 5, 2023Liked by John Canzano

John, you have cleared a lot of smoke from the room with this great piece.

It is apparent that trustee Allen is in it for the fees, which are eye popping. I still don’t know if she has a grudge or pre-disposed opinion of Knight, but it is obvious she doesn’t give a rat’s about Portland and the development scheme Knight and his partner in this effort want to implement. So, it still appears we are stuck with a trustee owner who likes money and power, and will only lose all of that if she sells. To anyone.

Really grateful for your shedding more light on this fiasco!

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If the sexual harassment charges are true, isn't that ammunition enough for the NBA commissioner to step in and put some pressure on her, start proceedings to take the franchise from her? Aren't there league rules about this....could the owners vote to remove her?

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Jun 5, 2023Liked by John Canzano

Jody Allen reminds me of the owner of the Indians in Major League

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Management fee for upwards of $100 million? Um, I think we have the smoking gun. Why would she want to give that up??? Dammit, every minute that she is the 'owner' the Blazers are further from being relevant. Man, this sucks! Would love to see what Uncle Phil would do with the franchise..

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Jun 5, 2023Liked by John Canzano

John, excellent job of "follow the money!" Play on, Charlie

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Jun 5, 2023Liked by John Canzano

Unbelievable! Jody's in the driver's seat - that ridiculous trust management fee is all the incentive she needs to hang on for maximum selling price. $90-$150MM per year? By the way, trust management fees are a huge scam...trusts that are put together clearly and accurately require next to nothing in terms of "management"... but it is legitimate, unfortunately. She and Kolde are going to spend a ton of time on their gold-plated milking stool and squeeze Knight and Smolinsky, along with other potential buyers, until they're absolutely sure they've got the last dollar possible.

Blazers fans are screwed. Would you be in a hurry if you had an annual incentive of $90-$150MM annually to take your time? I can also see a lot of potential litigation coming from this if anyone tries to squeeze Jody. That could tie things up for another 5 years...but, of course, the bottom-feeder attorneys will love it.

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Jun 5, 2023Liked by John Canzano

The management fee finally explains why the team is not for sale. The only way she sells is when the team is playing to an empty gym and the NBA then forces the sale.

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I lost interest in the TrailBlazers many years ago and this situation does nothing to reignite a desire to get behind the team. Mr. Knight has been an outstanding figure in the state of Oregon when it comes to his Ducks (and Beavers to a lesser degree) and could well do the same for pro basketball. It’s too bad the Trustee seems to care very little about those who continue to support the Blazers.

Separately, John, more comments about the demise of the PAC-12. It’s now multiple sources (unnamed) claiming Colorado is gone as soon as the Conference announces the new television package. You’ve told us to be wary of such reports, but this seems different. Is there anything you can add given this seemingly “new” development?

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Jun 5, 2023·edited Jun 5, 2023Liked by John Canzano

Ahhh, the Madison GC. Don't they serve you root beer floats upon completion of your round? It's the simple things in life........and 46 years ago today, the Blazers won their only title.

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Nice read, but two comments caught my eye.

First, you noted the value of the franchise has skyrocketed.

Second, you noted the incredible upside to any purchaser.

It seems to me she has used good judgment in retaining the franchise for the Trust beneficiaries. Had she sold it a couple of years ago, the Trust would have missed out on the incredible increase in value.

Further, why as Trustee would you sell this asset when everyone seems to be aware of the incredible upside for the owner in terms of development, etc? Can you imagine the second guessing by the beneficiaries if she just walks away from that upside without first exploring how to capture it for the beneficiaries?

Her obligation as Trustee (whom her brother clearly trusted and selected) is to the beneficiaries, not the NBA and not local sports fans.

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Ummm I dont get this. Assuming the Blazers are NOT filing, going broke, horribly managed....why should outsiders demand Allen sell the team. Trust me, the NBA usually doesnt care about fans and even local markets (see Seattle). I understand that the owner of the Oregon Ducks (Knight) is so worshipped that you all seem to want everything he wants. Claiming the Allen estate represents instability while a new 85 year old owner would represent long term stability is kind of comical. If Knight got his nose into the Blazers to the degree he runs Oregon athletics might well be a "be careful what you wish for" situation.

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That Oregon fans believe the ownership situation is a mess, Phil Knight is having a tantrum because he wants the team as a trophy before he dies, his partner wants to make money off development around the team but in reality John, there is nothing anybody can do about the situation. What would Uncle Phil do if Jody said fine" Pay the estate $15 billion for 49%?. there is your trophy" Nobody can tell Jody what to value the estate pieces at. She is the trustee. Any project Paul wanted funded she could fund and still hold onto valuable pieces with the argument they have more value than the market place claims. Heck an argument could be made by Jody that pressuring her to sell at $2 billion would have been violating her duty as trustee for selling cheap. Certainly it's worth $4billion+. I firmly believe in local ownership but legally there is nothing anybody can do. I will close with this, bringing up African animal bones and lawsuits about guys in swimsuits is a good way to P** her off. She could decide to sell to Las Vegas interests who want to move the team to las Vegas. And there is nothing anybody could do about it. The mess is not Jody's.

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Sell the team!!! Sell the team!!! Sell the team!!!!! Repeat until she sells.

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