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 PORTLAND, Ore. (AP) - Billionaire Paul Allen's spokesman said Thursday the future of the Portland Trail Blazers is in doubt after Allen's investment managers estimated the NBA franchise stands to lose more than $100 million over the next three years.
Lance Conn, who heads Vulcan Capital, Allen's privately held investment firm, told The Associated Press in an interview that "all options are on the table" because "the economic model is broken."
Allen, a Microsoft co-founder, has lost more than $12 billion on various investments in the past decade, and his NBA team has been hemorrhaging money for much of that time.
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