Billionaire financier Tom Dundon and a group of investors have an agreement to buy the Portland Trail Blazers, multiple sources briefed on the deal confirmed. Dundon is also the owner of the NHL’s Carolina Hurricanes.
The group led by Dundon will also include Sheel Tyle, the co-CEO of Collective Global.
Sportico was the first to report the deal.
The sale is not yet finalized. A spokesperson for the Allen family, which currently owns the franchise, declined to comment. The Blazers are a part of the Paul Allen estate.
Allen, the wealthy Microsoft co-founder, left his properties in a trust when he died in 2018 with directions for them to be sold off slowly. Jody Allen, his sister, has run the team since then.
The trust announced in May that it was selling the team and estimated initially that the process would go into the 2025-26 season.
The NBA’s board of governors must still approve the sale.
This story will be updated.
(Photo: Ron Chenoy / Imagn Images)
Aug 13, 2025
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