Tentative $4B Agreement Reached to Buy Portland Trail Blazers

Portland, Oregon- Carolina Hurricanes owner Tom Dundon has reached a tentative agreement to purchase the Portland Trail Blazers from the estate of late Microsoft co-founder Paul Allen for more than $4 billion, according to reports from Sportico and ESPN.

The deal, which has not been finalized, would also involve Blue Owl Capital co-president Marc Zahr and Portland-based Sheel Tyle, co-CEO of Collective Global, people familiar with the agreement told the outlets. The individuals spoke on condition of anonymity because the terms remain private.

The prospective ownership group intends to keep the NBA team in Portland, the sources said.

Sportico first reported the agreement, which was later confirmed by ESPN on X. Dundon, who has owned the NHL’s Hurricanes since 2019, would take over from Allen’s estate, which has controlled the franchise since Allen’s death in 2018.

The Trail Blazers, who joined the NBA in 1970, have made the playoffs 37 times and won the league championship once in 1977. The team has remained a central fixture in Oregon’s sports culture, with an intensely loyal fan base.

Final approval of the sale would require a vote from the NBA’s Board of Governors.