Carolina Hurricanes Owner Tom Dundon To Buy Portland Trail Blazers For $4B

Reese, Kmac, Pam and Alex discuss Tom Dundon buying the Portland Trail Blazers.

Tom Dundon, owner of the NHL's Carolina Hurricanes, has reached a tentative agreement to purchase the Portland Trail Blazers from the estate of the late Paul Allen. The reported deal is valued at around $4B and includes additional investors such as Sheel Tyle, a Portland-based entrepreneur, and Marc Zahr, co-president of Blue Owl Capital. Dundon confirmed the agreement to the Associated Press, and the deal now awaits approval from the NBA Board of Governors. Crucially, Dundon's group plans to keep the franchise in Portland, easing concerns about a potential relocation.

Paul Allen originally bought the team in 1988 for $70M and passed away in 2018. Since then, his sister, Jody Allen, has overseen the franchise as part of his estate. Allen’s will directed that sports assets like the Trail Blazers be sold, with proceeds supporting philanthropic efforts. The Trail Blazers are coming off their fourth consecutive season without a playoff appearance, finishing the 2024-25 season with a 36-46 record. The acquisition signals a potential fresh start for the franchise, with local fans likely reassured by the ownership group’s commitment to keeping the team in Portland. Will the Trail Blazers really stay in Portland? Does the sale of the Portland Trail Blazers to Hurricanes owner Tom Dundon open the door for a MLB team to move to Raleigh?