NBA: Hurricanes owner buys Portland Trail Blazers for over $4 billion

The NBA is about to welcome a prominent new owner. Tom Dundon, a 54-year-old Texan businessman, is buying the Portland Trail Blazers. He already owns the Carolina Hurricanes in the NHL since 2018. According to Shams Charania (ESPN), the amount exceeds $4 billion. This acquisition marks a historic turning point for the Oregon franchise.

A sale anticipated since Paul Allen’s death

The sale had been anticipated for several years. The Trail Blazers belonged to Paul Allen, co-founder of Microsoft, who died in 2018. His will provided for the sale of his sports teams. The proceeds were to go to charitable causes.

His sister handled the transaction, as Paul Allen had no spouse or children. The price exceeds $4 billion, while recent valuations were around $3.5 billion. However, the franchise has only one NBA title, won in 1977. They haven’t made the playoffs since 2021.

Breaking: Carolina Hurricanes owner Tom Dundon has agreed to buy the Portland Trail Blazers from the estate of Paul G. Allen for a valuation of over $4 billion, sources tell @ShamsCharania. pic.twitter.com/5MEGyhNrvt

— ESPN (@espn) August 13, 2025

Dundon’s successful NHL experience

Tom Dundon knows American professional sports. Since taking over the Carolina Hurricanes, the team has returned to top form. After nine seasons without playoffs, they’ve qualified every year. He achieved this success in a modest market.

This track record should facilitate the approval of the deal by other NBA owners. Additionally, Dundon has no plans to relocate the franchise. Portland fans can breathe easy.

The future of the front office and coaching staff remains to be determined. Joe Cronin and Chauncey Billups, recently extended, are expected to stay in their positions. This purchase is part of the broader restructuring of Allen’s estate. The next step will involve the sale of the Seattle Seahawks, for an amount that could exceed that of the Trail Blazers.