Tom Dundon, a billionaire investor and sports franchise owner, has reached an agreement to acquire the NBA’s Portland Trail Blazers from the estate of the late Paul G. Allen, in a deal valuing the team at more than $4 billion.
Paul Allen, Microsoft co-founder and long-time owner of the Blazers, died in 2018. Since his passing, his sister, Jody Allen, has overseen the management of his estate and the team’s operations.
Dundon, best known in sports circles as the owner of the NHL’s Carolina Hurricanes, also serves as chairman and managing partner of Dundon Capital Partners, a Dallas-based investment firm with holdings across finance, real estate, and entertainment.
The Trail Blazers officially initiated the sale process in May of this year, drawing interest from several potential buyers before Dundon’s bid emerged as the winning offer.
The transaction adds Portland to a recent wave of high-profile NBA team sales, coming on the heels of major ownership changes involving the Dallas Mavericks, Boston Celtics, and Los Angeles Lakers.
Blazers Sold To Tom Dundon For More Than $4 Billion https://t.co/nh7NfnAtaa
— RealGM (@RealGM) August 13, 2025
