NHL Owner in Line to Purchase Trail Blazers for Over $4 Billion

A Major NBA Move Unfolds

Tom Dundon—best known as the owner of the NHL’s Carolina Hurricanes—has reportedly reached a tentative agreement to purchase the Portland Trail Blazers for over $4 billion, according to ESPN’s Shams Charania. The deal remains subject to approval by the NBA Board of Governors.

Ownership Group to Keep Team in Portland

Dundon is leading a broader investment group that includes Sheel Tyle of Collective Global and Marc Zahr of Blue Owl Capital. Reports state the new ownership intends to keep the team in Portland, a reassurance likely to calm relocation fears among fans.

A Billionaire with a Track Record in Small Markets

Dundon’s experience with the Hurricanes makes him a noteworthy candidate for NBA ownership. Since acquiring the team in 2018, he emphasized stability, fan engagement, and team success for a small-market franchise. Blazers fans will be watching to see if he brings a similar approach to Portland, particularly regarding the aging Moda Center, which remains under lease through 2030.

New Era Begins After the Allen Estate

The sale of the Blazers marks the end of nearly four decades under the Seattle Seahawks and Trail Blazers’ owner Paul Allen. Since his passing in 2018, the team was managed by his sister Jody Allen as part of the estate. The estate had begun the sale process earlier this year, in May 2025.

What Lies Ahead

If approved, the transaction will unlock fresh leadership for the Trail Blazers. With Dundon’s reputation for stability and emphasis on fan experience, the franchise may be poised for a new chapter—balanced between honoring its roots and planning for a modern future. The focus now shifts to whether the NBA will ratify the deal and what terms will follow, including potential updates to the Moda Center and long-term direction for the team.