Billionaire investor and Carolina Hurricanes owner Tom Dundon has reportedly reached an agreement to purchase the NBA’s Portland Trail Blazers. The deal, according to Sportico, values the franchise at approximately $4.25 billion and involves two payment stages — one at closing and another at a later date.
Dundon is heading a consortium that is said to include Blue Owl Capital co-president Marc Zahr and Collective Global co-CEO Sheel Tyle. If the transaction is finalized, Dundon would serve as the team’s governor.
Commitment to Portland
Sources indicate the new ownership group intends to keep the Trail Blazers in Portland. The agreement remains subject to approval from the NBA’s Board of Governors before it can be completed.
Dundon, who purchased the NHL’s Carolina Hurricanes in 2018 for $425 million, also holds a stake in the Professional Pickleball Association Tour, which merged with Major League Pickleball last year.
From Paul Allen’s Legacy to a Record-Valued Market
The Trail Blazers were officially put up for sale in May by the estate of late Microsoft co-founder Paul Allen, who acquired the franchise in 1988 for $70 million. Investment bank Allen & Company was tasked with managing the sale process, which initially attracted high-profile interest — including from Nike co-founder Phil Knight.
A $4.25 billion price tag would place this deal among the most expensive in NBA history, though it would still trail recent high-profile transactions. The Boston Celtics recently changed hands in a deal valued at $6.1 billion to a group led by William Chisholm, while the Los Angeles Lakers are set to be sold to Mark Walter at a record $10 billion valuation.
Chisholm, managing partner at STG Partners, will initially acquire at least 51% of the Celtics, with full ownership expected by 2027. The NBA confirmed that the Celtics deal has been unanimously approved and is expected to close soon. Outgoing Celtics owner Wyc Grousbeck, who bought the franchise for $360 million in 2002, will remain CEO until 2028 and serve as alternate governor.
If approved, Dundon’s acquisition of the Trail Blazers would mark one of the most significant ownership changes in the league in recent years — and further underscore the escalating valuations of NBA franchises.
Partner With Us
Want to feature your brand, business, or service on 365247 — Whether you’re looking to sponsor, collaborate, or build presence within our ecosystem, we’d love to explore it with you.
Submit your Interest Here
IMAGE: Getty Images
