Portland Trail Blazers original owner Larry Weinberg passes away at age 92

PORTLAND, Ore. -- Larry Weinberg, inaugural owner of the Portland Trail Blazers, has passed away in Los Angeles according to his family members. He was 92. Along with Founding President Harry Glickman, the late Herman Sarkowsky and the late Robert Schmertz, Weinberg led the group that secured expansion franchise rights to bring the NBA to Portland in 1970. Weinberg, whose personal wealth came through real estate, became majority owner in 1975; and was team president when the Trail Blazers won the NBA Championship in 1977. He sold the Trail Blazers to the late Paul Allen for $70 million in 1988.