Tom Dundon, the billionaire owner of the NHL’s Carolina Hurricanes, is making headlines again — this time in the NBA.
Dundon has reportedly agreed to purchase the Portland Trail Blazers from the estate of Microsoft co-founder Paul Allen for a staggering $4 billion, marking one of the biggest sales in professional sports history.
A Legacy Continues After Paul Allen
Paul Allen, who passed away in 2018, had owned the Trail Blazers for more than three decades.
Since his death, the team has been managed by his estate, which announced its intention to sell the franchise back in May.
The proceeds from the sale are set to go toward philanthropic projects, continuing Allen’s tradition of giving back.
Dundon’s Plans for the Trail Blazers
According to ESPN and other reports, Dundon intends to keep the Trail Blazers in Oregon, a relief for local fans worried about a potential relocation.
He will not be acting alone — the new ownership group includes Blue Owl Capital co-president Marc Zahr and Portland-based Collective Global co-CEO Sheel Tyle.
Strategic Timing and Business Moves
The Allen family’s decision to sell comes amid several key developments.
Last year, the NBA secured a new 11-year media rights deal with ESPN, NBC, and Amazon valued at $77 billion.
In addition, the Trail Blazers sold their home arena to the city of Portland for $1, with the underlying land sold for $7 million, allowing for renovations and a new lease through 2030.
Dundon’s Sports Background
Dundon is no stranger to owning sports teams.
He purchased a majority share of the Carolina Hurricanes eight years ago and became the team’s sole owner in 2021.
He also gained recognition as chairman of the board for the Alliance of American Football, a short-lived professional league that folded after just eight games.
Trail Blazers’ Recent Performance
The team itself has struggled in recent seasons. Last year, the Blazers finished 4th in the Northwest Division and 12th in the Western Conference, missing the playoffs with a 36-46 record.
Dundon now faces the challenge of reinvigorating the franchise and returning it to championship contention.
