The Blazers have reportedly found their new owner.
Carolina Hurricanes owner Tom Dundon has reached a tentative agreement to buy the Portland Trail Blazers from Paul Allen’s estate, according to multiple reports. ESPN’s Shams Charania has reported the sale is for a valuation of over $4 billion.
Sportico’s Scott Soshnick and Eben Novy-Williams first reported the scoop, citing “people familiar with the details” in their report. The Oregonian’s Bill Oram and Charania both confirmed the report.
The timeline for closing the deal wasn’t disclosed. Soshnick and Novy-Williams reported that Dundon is leading a group to make the purchase, and this group “intends to keep the team in Portland.”
Others in the group include Blue Owl Capital co-president Marc Zahr and Portland-based Sheel Tyle, co-CEO of Collective Global, according to the people, who were granted anonymity because the details were private. The new group intends to keep the team in Portland, the people said.
It’s unclear how the team is being valued in the transaction or when it may close. “We are excited,” Dundon said in an email. Allen’s estate declined to comment. Sportico values the team at $3.6 billion.
The Estate of Paul G. Allen announced it had commenced the sales process for the Portland Trail Blazers franchise on May 13, saying the process was estimated to continue into the 2025-26 basketball season. The NBA Board of Governors must ratify a final purchase agreement.
Blazer’s Edge will provide further details as they become available.
Category: General Sports
