The Portland Trail Blazers are set to have a new owner, with Carolina Hurricanes owner Tom Dundon agreeing to buy the team from Paul Allen’s estate for just over $4 billion. According to sources confirmed by The Oregonian/OregonLive, Dundon heads a group that also includes co-president of Blue Owl Capital Marc Zahr and Portland-based CEO Sheel Tyle.
Dundon has expressed his commitment to keeping the team in Portland, citing its rich history and loyal fan base. His group is eager to bring other local investors on board, with one prominent investor potentially being Columbia Sportswear President Tim Boyle.
The sale comes after significant uncertainty surrounding the franchise’s future, following Jody Allen’s announcement of plans to sell the team seven years after her brother Paul Allen passed away. Over 100 local leaders signed a “Rip City Forever” petition in an effort to keep the team in Portland.
While the NBA’s board of governors must still approve the sale, Dundon’s ownership group is focused on making significant changes, including a potential new arena for the Blazers. The team has been in Portland since its founding in 1970 and will likely remain there under new ownership.
Source: https://www.oregonlive.com/sports/2025/08/portland-trail-blazers-to-be-sold-carolina-hurricanes-owner-tom-dundon.html