PORTLAND, Ore. (KATU) — At least three dozen staff members with the Portland Trail Blazers were laid off on Tuesday morning, our news partners at Willamette Week report.

The layoffs were from the business side of the basketball franchise, reports say, and comes nearly two months after the NBA Board of Commissioners approved the team’s sale to a group of investors led by billionaire Tom Dundon.

Those familiar with the organization tell our news partners at WWeek that while it is hard to tell exactly how many people were laid off, but it could be as many as 40 and run all the way up to the senior vice president.

In the report, the Blazers’ President of Business Operations said the restructuring is part of their plan to position the organization for the future.

The Trail Blazers have not publicly commented on the restructuring moves within the organization.

READ MORE: ‘Blazers are Portland’: Blazers owners and city leaders negotiate long-term stay at Moda

The new owner has already gained a reputation for prioritizing the bottom line. The changes come as questions remain about the team’s commitment to staying in Portland, and the plan to fund a renovation of the Moda Center.

Other reports on X indicated that upwards of 70 employees had been let go.

Among those hit by the layoffs is Trail Blazers insider and team reporter Casey Holdahl, who had been with the team for more than 18 years.

Dundon, who also owns the Carolina Hurricanes, bought the Blazers with a group that 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.

As of 2 p.m. Tuesday, a WARN (or Worker Adjustment and Retraining Notification) notice has not been sent out in advance of the layoff – a requirement for employers if there’s a massive layoff of 50 or more employees.

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This is a developing story; updates will be posted as information comes in.