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The Portland Trail Blazers have officially been sold away from Paul Allen's estate, according to a recent report. The Allen estate had been attempting to sell both the Blazers and the Seattle Seahawks in accordance with his will after the team owner passed away in 2018, per media reports.
The party purchasing the Blazers will be led by Tom Dundon, who is currently the owner of the NHL franchise, the Carolina Hurricanes, per Sportico.
The deal was reported by ESPN to be worth $4 billion and of course, the parties will need the approval of the NBA before the sale officially goes through.
“Others in the group include Blue Owl Capital co-president Marc Zahr and Portland-based Sheel Tyle, co-CEO of Collective Global, according to the people, who were granted anonymity because the details were private,” reported Scott Sochnick and Eben Novy-Williams of Sportico.
They also reported that the new ownership group has no plans to move the beloved Blazers away from Portland.
“We are excited,” Dundon said in a recent email regarding the sale.
The ownership change occurs during a bit of a transitional period for the Blazers franchise on the basketball court.
The team welcomed back franchise icon point guard Damian Lillard this summer as he rehabs his torn Achilles, and also traded for former Boston Celtics guard Jrue Holiday, but overall, Portland has shifted to more of a youth movement, with Toumani Camara, Shaedon Sharpe, Scoot Henderson, and several other young players starting to make waves over the last couple years.
More details about the specifics of the sale and when it's expected to go through will be likely to be released over the coming days.
Meanwhile, the Blazers' schedule for the 2025 NBA season is slated to be released at some point later on this week.
