Tom Dundon Agrees to Buy Portland Trail Blazers for Over $4 Billion – Plans to Keep Team in Portland

In a groundbreaking NBA deal, Tom Dundon, owner of the NHL’s Carolina Hurricanes, has reached a tentative agreement to purchase the Portland Trail Blazers from the estate of late Microsoft co-founder Paul Allen for more than $4 billion, according to multiple reports.

Key Highlights of the Deal

• Tom Dundon leads the buying group, which includes prominent investors.
• The sale price exceeds $4 billion, making it one of the largest in NBA history.
• Dundon has committed to keeping the Trail Blazers in Portland, ensuring the team remains a cornerstone of the city.
• The deal awaits approval from the NBA Board of Governors.

Who is Tom Dundon?

Tom Dundon, 53, is a Dallas-based billionaire with a diverse sports and business portfolio. He acquired the Carolina Hurricanes in 2018 for $425 million and holds major stakes in Major League Pickleball and the Professional Pickleball Association (PPA). Additionally, he was an early investor in Topgolf and founded Dundon Capital Partners, focusing on investments in healthcare, finance, and real estate.

The Buying Group

Alongside Dundon, the ownership group includes:

• Marc Zahr (Co-President of Blue Owl Capital)
• Sheel Tyle (Portland-based Co-CEO of Collective Global and founder of Amplo)
  Tyle, a Forbes 30 Under 30 alum, is married to Dr. Sejal Hathi, the director of the Oregon Health Authority.

Future of the Trail Blazers

The Blazers have been under the Paul Allen Trust since his passing in 2018. Allen had directed that his sports assets be sold, with proceeds going to philanthropy. The team, which Allen bought for $70 million in 1988, is now valued at $3.6 billion (per Sportico).

Dundon will serve as the team’s governor, ensuring stability and growth. The deal, facilitated by Allen & Company and Hogan Lovells, marks a new era for the franchise.

What’s Next?

• NBA approval is pending.
• No official closing date has been announced.
• The Seattle Seahawks (NFL) and Seattle Sounders FC (MLS), also under Allen’s estate, are not for sale.

Fans can expect Dundon to bring his sports management expertise to Portland, with a focus on long-term success and community engagement.