By Johnny Askounis/ info@eurohoops.net
The NBA Board of Governors has approved the sale of the Portland Trail Blazers to an investment group led by Tom Dundon, owner of the NHL’s Carolina Hurricanes.
Per the press release: “The NBA Board of Governors has approved the sale of the controlling interest in the Portland Trail Blazers to an investor group led by Tom Dundon, who will serve as the Trail Blazers’ Governor. The transaction is expected to close this week.”
The league unanimously approved the sale, according to Jason Quick of The Athletic. This landmark transaction, valued at approximately $4.25 billion, marks the first change in franchise ownership since 1988, when the late Paul Allen purchased the Blazers from California real estate developer Larry Weinberg for $70 million.
At just 35 years old, the Microsoft co-founder became the youngest team owner across the four major professional sports leagues in North America. His 30-year tenure was defined by significant growth and success. The Blazers reached the playoffs 19 times, including two NBA Finals appearances in 1990 and 1992. Allen was also instrumental in the development of the Moda Center, which he purchased in 2007.
The current deal fulfills Allen’s wishes to direct all estate proceeds toward philanthropy. Per Quick, the sale will close in two phases with an initial 80.1% stake immediately at a $4 billion valuation, and the remaining 19.9% by September 2028 at a $4.5 billion valuation.
Dundon is joined by a high-profile group reported by Quick, including Stanley Middleman (Freedom Mortgage), Marc Zahr (Blue Owl Capital), Sheel Tyle (Collective Global), and the Cherng family (Panda Express). The new leadership arrives as the Oregon Legislature recently approved $365 million for renovations to the Moda Center, securing the team’s future in Portland.
The $4.25 billion sale reflects a massive surge in NBA franchise values, especially compared to Paul Allen’s $70 million purchase in 1988. While this is one of the highest prices ever paid for an NBA team, it sits within a rapidly escalating market where top-tier franchises are now valued at over $10 billion.
On the court, interim head coach Tiago Splitter has led the team to a 38-38 record in the 2025-26 NBA Regular Season, with a spot locked in for the 2026 SoFi NBA Play-In Tournament.
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