PORTLAND, Ore. - Paul Allen was emphatic: He's not selling the Portland Trail Blazers.

In a rare and wide-ranging discussion with reporters on Monday night, the billionaire owner shot down recent talk that he wants to put the Blazers on the market in the near future.

"I have no plans to sell the team," he declared.

Allen (pictured) would not, however, say how long he expects to keep the Blazers. He says numerous factors would play into that decision, including his health. The co-founder of Microsoft was diagnosed with non-Hodgkin's lymphoma and underwent chemotherapy in 2009, but was declared cancer-free late last year.

Allen was optimistic the NBA's new labor agreement would help smaller-market teams like his that have been losing money. He corrected one reporter about his losses saying they were in the "hundreds of millions, let's be clear".

The labor deal, ratified by players and owners on Dec 8, ended a 161-day lockout. It included several owner-friendly provisions, like expanded revenue sharing, a 12 percent reduction in players' salaries, and a limit on certain contracts.

It also included an amnesty clause that allows teams to waive a player and have his salary fall off the books for salary cap and luxury tax purposes.

Allen hinted he will be more fiscally conservative, but the new labor agreement helps create more competitive balance.

"I think as an owner, you really want to do the team right, the fans right, and the community right and build a winning organization. It does eventually come back to the desire to win and be able to enjoy with the fans and the community the success you have," he said. "So I've invested a lot, but the crazy luxury tax days and all those things, those are gone. ... With the carefully, newly crafted luxury tax, hopefully they are gone for everybody and everybody is on a much more level playing field."

The Blazers benefited from amnesty last week in dealing with all-star guard Brandon Roy, who abruptly decided a day before training camp opened that he was retiring because of ongoing problems with his knees.

Using amnesty for Roy helped Portland in signing free agent sixth-man Jamal Crawford to a two-year deal, significantly shoring up the Blazers' depth.

Roy's retirement after just five NBA seasons was a blow to the Blazers, who at the same time learned that former No 1 draft pick Greg Oden had suffered a setback after missing all of last season recovering from left knee surgery. The team also learned forward LaMarcus Aldridge, the top scorer last season, required a procedure to treat a heart condition.

The Blazers have since rebounded. Aldridge will return to full practice on Tuesday and should be ready for the season opener against Philadelphia on Dec 26. In addition to Crawford, the Blazers signed forward/center Kurt Thomas and forward Craig Smith, giving the team additional depth.

But Portland is still looking for a permanent general manager to replace Rich Cho, who was fired in May after less than a year on the job. Allen confirmed speculation the two did not mesh.

"Sometimes you realize it's not a good fit," he said.

Associated Press