Tom Dundon Leads Tentative $4 Billion Buyout of Trail Blazers—Portland Stays in Focus
Portland, OR (August 13, 2025) — In a major move that could reshape the NBA landscape, Carolina Hurricanes owner Tom Dundon has confirmed that a group he is leading has reached a tentative agreement to acquire the Portland Trail Blazers from the estate of Paul Allen, including a deal valuation exceeding $4 billion—one of the highest in league history
Sports Business Journal sources, including Alex Silverman, confirm Dundon’s role and leadership in the deal, though he has declined further comment . Notably, the ownership consortium features Marc Zahr, co-President of Blue Owl Capital, and Sheel Tyle, co-CEO of Portland-based Collective Global . Reporting by ESPN’s Shams Charania emphasizes the “over $4 billion” valuation of the transaction.
Importantly for fans and the local community, the group “intends to keep the team in Portland”—a message that brings a measure of relief and stability to a city passionate about its franchise.
Context & What’s Next
- Sale Background: The estate of Paul G. Allen initiated the sale process on May 13, 2025, with a projected timeline stretching into the 2025–26 NBA season. Proceeds are intended for philanthropic endeavors, honoring Allen’s legacy .
- Valuation Insights: Sportico had pegged the team’s value at about $3.6 billion, while current reports indicate the deal may exceed $4 billion—underscoring the rising valuation of NBA franchises .
- Approval Pending: The agreement is tentative and still subject to approval from the NBA Board of Governors. The exact timeline and closing specifics remain undisclosed
