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.

Nike founder and chairman emeritus Phil Knight believes it's too late in the game for him to buy an NBA franchise.

Nike co-founder Phil Knight has ruled out any interest in purchasing the Portland Trail Blazers, ending years of speculation linking the Oregon native to the franchise. Knight issued a definitive statement this week to Mike Vorkunov of The Athletic,