The Portland Trail Blazers have reportedly found a buyer in Tom Dundon, the owner of the NHL’s Carolina Hurricanes, in a deal valued at $4.25 billion. Dundon, a billionaire financier, plans to keep the team in Portland and has co-investors, including Portland-based Sheel Tyle, founder and co-CEO of investment firm Collective Global, and Marc Zahr, president of Blue Owl Capital. The sale is subject to approval by the NBA Board of Governors.
The Trail Blazers were put up for sale by the estate of Paul Allen, who owned the team since 1988 until his death in 2018. Allen’s will directed his estate to sell his sports assets, with proceeds going to philanthropic causes. The team’s valuation of $4.25 billion is slightly above the estimated value of $3.65 billion by CNBC in 2025.
Dundon’s investment group aims to maintain the team’s presence in Portland, a move that would bring stability and continuity to the franchise. With the sale pending approval, the Trail Blazers are poised for a new era under Dundon’s ownership. Other potential bidders included Phil Knight, Nike’s co-founder, and Jeff Bezos, Amazon’s co-founder, but Dundon’s group seems to have secured the deal.
