Tom Dundon to buy the Portland Trail Blazers from Paul Allen's estate
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Dundon owns the NHL's Carolina Hurricanes, and he's the majority owner of the Pro Pickleball Association and Major League Pickleball.
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2 min read
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investment
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August 14, 2025
11:40 AM
CNBC
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Tom Dundon, owner of the Carolina Hurricanes, speaks to media before an NHL game against the New York Rangers at PNC Arena in Raleigh, North Carolina, on Feb. 19, 2019.Karl Deblaker | National Hockey League | Getty ImagesCarolina Hurricanes owner Tom Dundon has reached a tentative agreement to buy the Portland Trail Blazers from Paul Allen's estate, Dundon told CNBC.Dundon declined to vide the terms of the posed sale but said he is "very excited." CNBC's Official NBA Team Valuations listed the Trail Blazers at a value of $3.65 billion.The 53-year-old man is chairman of Dundon Capital Partners based in Dallas, Texas.He's also a passionate sports owner
He agreed to purchase a controlling stake in the NHL's Carolina Hurricanes in 2017, and he's the majority owner of the Pickleball Association and Major League Pickleball.Get the CNBC Sport directly to your inboxThe CNBC Sport with Alex Sherman brings you the biggest news and exclusive interviews from the worlds of sports and media, dered weekly to your inbox. here to get access today.If his purchase of the Trail Blazers is apved, Dundon and his ownership team would take over ownership from the estate of the late Microsoft co-founder
Allen's sister Jody Allen has been managing the team since his death in 2018.In 2022, Nike co-founder Phil Knight reportedly offered more than $2 billion for the team, but Allen declined.The NBA declined to
The Trail Blazers did not immediately respond to CNBC's request for
Sportico first reported news of the sale.— CNBC's Michael Ozanian contributed to this report.Don’t miss these insights from CNBC Nvidia gets price target hike from Goldman Sachs ahead of earningsA bearish 'double top' pattern just formed in the Dow
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