Another NBA blockbuster as Portland Trail Blazers sell to group led by billionaire Tom Dundon for reported $4.25 billion

Success·SportsAnother NBA blockbuster as Portland Trail Blazers sell to group led by billionaire Tom Dundon for reported $4.25 billionBy Nick LichtenbergBy Nick LichtenbergFortune Intelligence EditorNick LichtenbergFortune Intelligence EditorNick Lichtenberg is Fortune Intelligence editor and was formerly Fortune's executive editor of global news.SEE FULL BIO The Portland Trail Blazers have a buyer.Steph Chambers/Getty ImagesThe Portland Trail Blazers have reached a landmark sale agreement with a group led by Tom Dundon, the billionaire owner of the NHL’s Carolina Hurricanes, Sportico was first to report

The deal is reportedly valued at $4.25 billion, joining a string of multibillion-dollar NBA franchise deals in recent months, a duct of new, lucrative media rights deals with Amazon, NBC, and ESPN

Dundon, a Dallas-based man, steps to the forefront as the principal buyer, and is joined by investor Marc Zahr, co-president of Blue Owl Capital, and Sheel Tyle, a Portland-based venture capitalist whose local ties reassure fans concerned the franchise’s future

Dundon confirmed the sale while declining to on the exact transaction value, saying he was “very excited.” Sale cess and historic context The estate of billionaire Paul Allen announced the Blazers were formally up for sale in May, acting on directives from the late Microsoft co-founder, who acquired the team in 1988 for just $70 million

This pushed the Trail Blazers’ worth up, with this sale settling at a reported $4.25 billion

Crucially, Dundon and his group have assured the city and NBA fans that Trail Blazers will remain in Portland, putting to rest years of speculation a possible relocation

Ron Wyden said he had just fielded a call from Dundon while talking to reporters during a visit to the Oregon Food Bank on Wednesday

He said Dundon sounded “very excited the team’s future being here in beautiful Portland.” The team’s , the Moda Center, was sold to the city in 2024 for $1 plus $7 million for the land, paving the way for a public-private partnership aimed at renovating the arena and ensuring the Blazers’ lease runs through 2030, with a five-year extension available

Local impact and philanthropy With Oregon still lacking NFL, MLB, or NHL franchises, the Blazers remain a cultural pillar for the region. ceeds from the sale will support philanthropic endeavors as outlined in Paul Allen’s will, though full details remain forthcoming

Dundon’s investment group is known for leveraging entertainment-district developments around fessional sports venues, mpting hope in Portland for economic revitalization of the Rose Quarter and beyond

Meanwhile, local leaders and the grassroots “Rip City Forever” movement are calling for continued public-private partnerships to extend the Blazers’ impact into the future

For this story, Fortune used generative AI to help with an initial draft

An editor verified the accuracy of the information before publishing

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