Nike co-founder Phil Knight said Wednesday he is not interested in buying the Portland Trail Blazers following the announcement that the team is up for sale.

Nike co-founder Phil Knight will not make a bid to buy the Portland Trail Blazers, the 87-year-old said in a statement shared Wednesday by The Athletic's Mike Vorkunov.

Oregon Ducks legend and Nike co-founder Phil Knight has opened up about his potential involvement in purchasing the Portland Trail Blazers.