{"id":138689,"date":"2025-09-12T22:08:07","date_gmt":"2025-09-12T22:08:07","guid":{"rendered":"https:\/\/www.newsbeep.com\/au\/138689\/"},"modified":"2025-09-12T22:08:07","modified_gmt":"2025-09-12T22:08:07","slug":"allens-estate-enters-formal-agreement-to-sell-trail-blazers","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/au\/138689\/","title":{"rendered":"Allen’s estate enters formal agreement to sell Trail Blazers"},"content":{"rendered":"

PORTLAND, Ore. — Paul Allen’s estate has formally reached an agreement to sell the Portland Trail Blazers<\/a> to a group of investors led by Carolina Hurricanes<\/a> owner Tom Dundon.<\/p>\n

Dundon announced a tentative deal last month to buy the team and keep it in Portland. The Allen estate announced Friday that it had “entered a formal sales agreement” with the group. Terms were not disclosed.<\/p>\n

Dundon’s group includes Portland-based Sheel Tyle, the co-founder of investment firm Collective Global; Marc Zahr, co-president of Blue Owl Capital; and the Cherng Family Trust, the family office and investment firm of the co-founders of Panda Express.<\/p>\n

The NBA Board of Governors has to ratify any final purchase agreement. ESPN previously reported<\/a> the deal was for $4 billion. In March, the Boston Celtics<\/a> sold for $6.1 billion.<\/p>\n

The Blazers sale is expected to close by the end of this year.<\/p>\n

Editor’s Picks<\/a><\/p>\n

Dundon, 53, bought a stake in the Hurricanes in 2017 and became the majority owner in 2018. He is chairman and managing partner of the Dallas-based firm Dundon Capital Partners.<\/p>\n

Allen’s estate announced in May that it had begun the process of selling the Trail Blazers. The billionaire co-founder of Microsoft, who died in 2018 at age 65 from complications of non-Hodgkin lymphoma, originally bought the Blazers in 1988 for $70 million.<\/p>\n

Allen also owned the NFL’s Seattle Seahawks<\/a> and was a co-owner of Major League Soccer’s Seattle Sounders<\/a>.<\/p>\n

Since his death, Allen’s sister, Jody Allen, has served as chair of both the Blazers and Seahawks and is a trustee of the Paul G. Allen Trust. Paul Allen stipulated in his will the eventual sale of his teams, with the proceeds to be given to philanthropic endeavors.<\/p>\n

The estate has not announced plans for the sale of the Seahawks or the 25% stake in the Sounders.<\/p>\n","protected":false},"excerpt":{"rendered":"PORTLAND, Ore. — Paul Allen’s estate has formally reached an agreement to sell the Portland Trail Blazers to…\n","protected":false},"author":2,"featured_media":138690,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[557],"tags":[64,63,590,85],"class_list":{"0":"post-138689","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-nba","8":"tag-au","9":"tag-australia","10":"tag-nba","11":"tag-sports"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts\/138689","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/comments?post=138689"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts\/138689\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/media\/138690"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/media?parent=138689"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/categories?post=138689"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/tags?post=138689"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}