Tom Dundon, owner of the NHL’s Carolina Hurricanes, reached a tentative agreement to purchase the Portland Trail Blazers from the estate of Paul G. Allen for over $4 billion. This landmark deal marks a significant moment for the NBA franchise and its fans in Portland. Here’s everything you need to know about Tom Dundon’s acquisition of the Trail Blazers, its implications, and what it means for the team’s future.
The Trail Blazers were put up for sale in May 2025 by the estate of Paul Allen, Microsoft co-founder who purchased the team in 1988 for $70 million. Allen, who passed away in 2018, directed in his will that his sports holdings, including the Blazers, be sold with proceeds going to philanthropy. His sister, Jody Allen, managed the team as the executor of the Paul Allen Trust, overseeing key moves such as extending contracts for general manager Joe Cronin and coach Chauncey Billups.
Dundon’s group has confirmed its intention to keep the Trail Blazers in Portland, a relief for fans worried about relocation. The team’s home, the Moda Center, was sold to the City of Portland in 2024 for $1, with the surrounding land for $7 million, followed by a public/private partnership to renovate the arena and extend its lease through 2030. Dundon’s experience with arena negotiations in Raleigh for the Hurricanes suggests he’ll pursue a similar public/private partnership to modernize or replace the Moda Center, addressing NBA Commissioner Adam Silver’s call for a new arena in Portland.
The sale awaits approval from the NBA Board of Governors, a process expected to be a formality given Dundon’s established reputation as a sports owner. Once finalized, fans can anticipate updates on arena plans, roster moves, and Dundon’s vision for the franchise.