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The sale of the Portland Trail Blazers is moving forward with a targeted closing date of March 31, 2026, according to a report from Jason Quick of The Athletic on Tuesday. The plan calls for a purchase agreement to be signed in September, setting the stage for the franchise to change ownership before the end of the 2025-26 NBA season.
Last week, ESPN reported that Tom Dundon, owner of the NHL’s Carolina Hurricanes, will purchase the Trail Blazers from the Paul Allen estate for $4.25 billion. The estate has been working to sell both the Blazers and the NFL’s Seattle Seahawks in accordance with Allen’s will after his death in 2018.
The estate overseeing Allen’s holdings has indicated the franchise will remain in Oregon, with a source confirming to The Athletic that relocation is not expected.
Dundon, a Dallas businessman, is leading the purchase effort alongside Chicago-based investor Marc Zahr and Sheel Tyle, the co-CEO of Collective Global Management. Tyle, who is originally from Houston, has lived in the Portland area for the past two years. His wife, Sejal Hathi, currently serves as director of the Oregon Health Authority.
Once a purchase agreement is finalized, the NBA will schedule a vote by its Board of Governors to approve the sale. If approved on time, the new ownership group would assume control of the team with six games left in the 2025-26 regular season.
Blazers face arena questions and roster overhaul as $4.25B sale moves forward
Attention has also turned to the team’s home arena. The Trail Blazers are under contract to play at the Moda Center through 2030, though Commissioner Adam Silver has publicly suggested the franchise may eventually require a new facility. While the building’s shortcomings — including cramped visitor locker rooms and aging suites — have been noted, a source told The Athletic that none of the issues are significant enough to block the deal.
“Nothing about the arena is a deal breaker on its own. It’s lots of little things that add up,” the source said.
If Dundon completes the purchase, the expectation is that success on the court will be his primary focus. His tenure with the Hurricanes reflected that approach. When he took over the franchise, Carolina had missed the postseason nine consecutive years. Since then, the team has reached the playoffs in seven straight seasons, making three trips to the Eastern Conference finals.
The Trail Blazers are currently undergoing a rebuild after finishing the 2024-25 season with a 36-46 record, placing 13th in the Western Conference. Over the offseason, the team reshaped its roster by trading Anfernee Simons to the Boston Celtics for veteran guard Jrue Holiday, signing Damian Lillard after his release from the Milwaukee Bucks as he recovers from an Achilles injury, and drafting 7-foot center Yang Hansen with the 16th overall pick in the 2025 NBA Draft.
Portland will begin the 2025-26 campaign at home against the Minnesota Timberwolves on Wednesday, Oct. 22.
If the sale closes on schedule, the Trail Blazers will enter a new ownership era as they continue to build toward returning to contention in the Western Conference.
