Paul Allen to keep Blazers

Updated: May 9, 2012, 3:42 PM ET
ESPN.com news services

PORTLAND, Ore. -- Paul Allen insists he's not going to sell the Portland Trail Blazers, but he says this season is the most disappointing he's had in 24 years as the team's owner.

The billionaire co-founder of Microsoft has posted an open letter to fans on the Blazers' team website. He reiterates what he's said all season long, that the team is not for sale. He says he has not received any offers, and that none have been solicited.

One thing we are not going to do is to spend money like there is no tomorrow, and calls to do so just don't make sense. I've tried that path before -- it doesn't work and is not sustainable.

-- Blazers owner Paul Allen

"There could come a time when I decide to sell the Trail Blazers," Allen said in the statement. "Many factors would go into that decision, including my health, the team's economics, and the progress I can see on the court."

Allen, who was diagonosed with non-Hodgkin lymphoma in 2009, said: "I'm feeling good these days and have remained in remission for two years.)"

The Blazers wrapped up the lockout-shortened season 28-38 and out of the playoffs. The team is operating with an interim general manager and is looking for a head coach.

"We are now talking with viable candidates and I have already done my first interview," Allen said of the GM search. "We're moving forward thoughtfully because we must ensure we have the right fit. Ideally, we'd like to have someone in place before the draft and before we decide on a permanent coach, but finding the right executive may take time."

But Portland has collected up to four picks in the upcoming NBA draft, and made moves this season to free up cap space for free agency.

"One thing we are not going to do is to spend money like there is no tomorrow, and calls to do so just don't make sense," Allen said. "I've tried that path before -- it doesn't work and is not sustainable. We will follow a judicious and sustainable path going forward."

Information from The Associated Press was used in this report.

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