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.

Nike co-founder Phil Knight said Wednesday he is not interested in buying the Portland Trail Blazers, who are up for sale. Paul Allen's estate said Tuesday it has begun the process of finding a new owner for the team.

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.