Inaugural owner of Portland Trail Blazers passes away at 92

Larry Weinberg, the inaugural owner of the Portland Trail Blazers, has died at 92, family members said Wednesday. Weinberg led the group that consisted of founding team president Harry Glickman, the late Herman Sarkowsky and the late Robert Schmertz, to secure expansion franchise rights to bring the NBA to Portland in 1970. The cost was $3.7 million. Weinberg, who built a fortune in residential real estate, became majority owner in 1975 and was team president when the Trail Blazers won their only NBA title in 1977.

He sold the Trail Blazers to the late Paul Allen for $70 million in 1988. "Under Larry's ownership, the Portland Trail Blazers became the best franchise in the NBA," Glickman said in a statement released by the team. "Larry was a Blazer booster all his life and appeared at many playoff games even after he sold the club. He was a fine gentleman. Personally, I worked with him closely and we became good friends, as well as owner and employee. Joanne and I extend our condolences to his wonderful family."

Trail Blazers founding broadcaster Bill Schonely added: "Larry was truly a bright spot for our franchise, a gentleman's gentleman as an owner and team executive. Whenever he was in the office, he made a special effort to always visit with employees. Larry was good to the Trail Blazers players and coaches, and someone we all admired." Oregon Sen. Ron Wyden added on Twitter, "He was my friend and like many, I will mourn his passing." A jersey in Weinberg's honor was hung up by the Blazers in the early 1990s, with his name and the No. 1 on it. Michael Lewellen, the Trail Blazers vice president of communications, said Wednesday that "plans for an in-game recognition are still being developed." Funeral arrangements are pending. 

(With inputs from agencies.)