RIP Paul Allen.
And here comes the media maelstrom, based on any number of possibilities involving the settling of the Blazers ownership, plus what happens to Rose Quarter property (and surroundings). There will be a lot of scenarios brought forward that could involve the NHL or maybe a new ballpark in the Rose Quarter.
And then, probably, nothing will really happen.
Main reason: the NBA has a lineup of people who want into the league. Example: it's not like Steve Ballmer was seeking to go after the Los Angeles Clippers. He was originally trying to help Chris Hansen arrange NBA's return to Seattle... and then they split. Or maybe Ballmer didn't think Hansen's plan was going anywhere. Who knows? The NBA kept tabs with Ballmer, he buys the Clippers, and currently he talks about getting a new arena built in Inglewood next to the NFL stadium currently being built for the Rams and Chargers. You have people like Larry Ellison who want into "the club," they point him to Portland... and they advise him, in all likelihood, not to deal with the NHL or Portland Diamond Group.
Of course, that's not 100% assured, and it's hard for the NBA to deny a truly viable local group. Thing is, as long as Phil Knight isn't interested (and he keeps saying he's not), who's a viable local group? Merritt Paulson isn't rich enough. Someone like Terry Emmert is even worse.
So stay tuned, but please, please no breath holding.