NHL owner Tom Dundon has agreed to purchase the Portland Trail Blazers from Paul G. Allen’s estate for approximately $4 billion, according to sources confirmed by ESPN. Dundon plans to keep the team in its current location.
The announcement comes after the NBA reached new 11-year media rights deals worth $77 billion with major networks like ESPN, NBC, and Amazon. The Blazers sold their home arena, Moda Center, to the city of Portland for $1 and $7 million land value last year, paving the way for a public-private partnership to renovate the area.
Dundon’s group will discuss a new public-private partnership with the city and state, maintaining a commitment to keeping the team in Portland. This marks the end of Paul G. Allen’s estate as a majority owner, with his sister Jody Allen previously acting as governor and executor of the Paul Allen Trust.
Source: https://www.espn.com/nba/story/_/id/45966700/soruces-tom-dundon-agrees-buy-trail-blazers-stay-portland