By JAKE FENNER, US SPORTS WRITER
Published: 13:42 EDT, 13 August 2025 | Updated: 13:53 EDT, 13 August 2025
Tom Dundon, a Houston-born billionaire and the owner of the NHL's Carolina Hurricanes, has agreed to purchase the Portland Trail Blazers from the estate of Paul Allen for a massive $4billion price tag.
Allen, the late co-founder of Microsoft, bought the team over three-and-a-half decades ago and his estate has owned the Blazers since his passing in 2018.
Now, according to multiple reports (first reported by Sportico), Dundon is purchasing the team. Per ESPN, Dundon intends to keep the team in Oregon.
In addition to Dundon, other members of the new ownership group include Blue Owl Capital co-president Marc Zahr and Portland-based co-CEO of Collective Global Sheel Tyle.
The Allen Family initially announced their intentions to sell the team back in May. Proceeds from the sale will be donated to philanthropic endeavors.
The purchase does not include the family's stakes in other sports teams: the NFL's Seattle Seahawks or the 25 percent stake it holds in MLS' Seattle Sounders FC.
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