Nike Inc. cofounder Phil Knight has repeatedly expressed interest in buying the Portland Trail Blazers, but now that it’s finally for sale, he has decided to pass on the chance to own the NBA franchise.

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.Knight, 87, issued a statement citing his age as a primary roadblock to purchasing the Portland Trail Blazers.