Tom Dundon is buying the Portland Trail Blazers and keeping the team in Portland

• Tom Dundon and investors have reached an agreement to purchase the team.
• They plan to keep the team in Portland.
• The agreement needs to be approved by the NBA Board of Governors.

Wealthy financier Tom Dundon and a group of investors have reached an agreement to purchase the Portland Trail Blazers. According to information, the agreement was confirmed by several sources. Dundon, who also owns the NHL team Carolina Hurricanes, plans to keep the team in Portland.

The agreement is not yet final. A representative of the Allen family, which currently owns the team, declined to comment on the situation. The Portland Trail Blazers are part of the estate of Paul Allen.

Paul Allen, a co-founder of Microsoft, passed away in 2018, leaving his assets in a trust managed by directives regarding their eventual sale. His sister, Jody Allen, has been leading the team since that time.

In April 2025, the trust is expected to begin the process of selling the team, aiming to conclude the process by the end of the 2025-26 season. The valuation of the agreement is expected to exceed $4 billion.

Additionally, the NBA Board of Governors still needs to approve the agreement. Dundon's group also plans to discuss potential collaboration with the city and state for the development of the arena.

This article will be updated.

Tags: Sport/Basketball