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A billionaire has just purchased an NBA team after decades of ownership by a single family, but the story isn't going to end like it did for another team that was purchased in the Pacific Northwest.
According to a report from Sportico, billionaire and current NHL owner Tom Dundon will purchase the NBA's Portland Trail Blazers. Dundon will make the purchase from the estate of the late Paul G. Allen, and the deal is reportedly valued at just over $4 billion, according to ESPN.
ESPN is also reporting that Dundon intends to keep the team in Portland, a move that will immediately quell any fears of the team moving like the Seattle Supersonics did back in 2008. The Sonics are now the Oklahoma City Thunder, a decision that is still felt throughout the region.
The Trail Blazers have been able to fill the void for some, and they'll continue to be the NBA's representative in an area that loves basketball. Several NBA stars were born or raised in the Pacific Northwest, such as Zach LaVine, Dejounte Murray, Payton Pritchard and Domantas Sabonis.
The Blazers are also the only professional sports team in Oregon, as the state does not have professional hockey, baseball or football teams in the major American leagues. Soccer is also popular in the region, and the MLS' Portland Timbers and NWSL's Portland Thorns are well-supported.
Dundon comes in with a background in sports ownership, as he's owned the NHL's Carolina Hurricanes since 2018. He became the team's sole owner three years later, buying the rest of the team's minority shares.
The Hurricanes have made the playoffs in every season since Dundon took over ownership, and they ended a nine-year playoff drought in his first season.
Paul Allen, one of Microsoft's co-founders, owned the Trail Blazers and Seattle Seahawks until his death in 2018. His sister inherited both teams after his passing, and she set the decision to sell the team in motion earlier this year.
Like her brother, Jody Allen is heavily involved in philanthropy and will allocate most of the proceeds from the sale to those endeavors.
The 53-year-old Dundon is the co-founder of a private investment firm based out of Dallas. He's invested in sports, entertainment, real estate, healthcare, hospitality, tech, automotive and finance.
We'll see if he can replicate the same level of success he's had with the Hurricanes as he begins a new journey in Portland.
Billionaire Vows To Keep NBA Team in Its Current City After Purchase first appeared on Men's Journal on Aug 13, 2025
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