Signed Blazers sale agreement, awaiting governors’ approval
A group led by Tom Dundon, the owner of the Carolina Hurricanes, has formally agreed to buy the Portland Trail Blazers from Paul Allen’s estate; however, the NBA board of governors must approve the deal before it can be finalized.
The deal was revealed by the Trail Blazers on Friday. According to The Oregonian, the franchise is worth $4.25 billion in this deal.
The club will stay in Portland in accordance with the arrangement.
The ownership group includes at least two people with ties to Oregon. Portland-based Collective Global was founded by Sheel Tyle. Additionally, Peggy Cherng, a member of the Panda Express restaurant family, went to Oregon State.
The NBA governors have not yet established a vote date, but the transaction is expected to close on March 31, 2026, at the latest.
Rebuilding the team and determining its arena status are the tasks facing the Dondon group.
Once a consistent postseason contender, the Blazers have finished 117-211 (.357) in their last four seasons under head coach Chauncey Billups. With Jack Ramsay as their head coach and Bill Walton at center, they won their lone NBA championship in 1977.
Located in the heart of the city’s redevelopment of the Rose Quarter, the house Moda Center, which opened in 1995, also needs to be renovated or replaced.
In 1988, Allen, the Microsoft co-founder and entrepreneur, paid $70 million for the Trail Blazers. When he passed away in 2018, his will instructed his estate to sell the squad in order to raise money for charitable causes.
In addition, Allen’s estate holds a 25% share in the MLS Seattle Sounders and the NFL Seattle Seahawks.
