Carolina Hurricanes owner Tom Dundon has reached an agreement to purchase the Portland Trail Blazers from Paul Allen’s estate. Here’s what we know about the sale, the new ownership group, and what it means for the franchise.
Tom Dundon to Buy Portland Trail Blazers from Paul Allen Estate
The Portland Trail Blazers are officially changing hands. Carolina Hurricanes owner Tom Dundon has reached a deal to purchase the NBA franchise from the estate of late Microsoft co-founder Paul Allen, a person with direct knowledge of the agreement confirmed to USA TODAY Sports.
While the sale price has not yet been disclosed, the deal marks one of the most high-profile NBA franchise transactions in recent years.
Who’s Involved in the Deal?
According to Sportico, Dundon’s ownership group includes:
- Marc Zahr, co-president of Blue Owl Capital
- Sheel Tyle, Portland-based co-CEO of Collective Global
This signals a combination of established sports ownership experience and investment powerhouse backing—a potential game-changer for the Blazers’ long-term vision.
Background: From Paul Allen’s Legacy to the Open Market
Paul Allen purchased the Trail Blazers in 1988 and was a deeply involved owner, guiding the team through multiple playoff runs. After his death in 2018, his sister Jody Allen took over as chairperson of both the Blazers and the Seattle Seahawks, as well as trustee of the Allen estate.
For years, Jody Allen publicly maintained that the Blazers were not for sale:
“As we’ve stated before, neither of the teams is for sale and there are no sales discussions happening… Estates of this size and complexity can take 10 to 20 years to wind down.”
However, in May 2025, the estate officially announced that the Blazers were on the market, with proceeds earmarked for philanthropy, in line with Paul Allen’s wishes.
Why Tom Dundon?
Tom Dundon, 54, is a billionaire investor best known for purchasing the Carolina Hurricanes in 2018 and helping turn the NHL team into a perennial playoff contender. His sports management style combines aggressive talent acquisition with a focus on fan experience and business growth.
His track record includes:
- Revitalizing the Hurricanes brand and boosting attendance.
- Making strategic investments in sports entertainment ventures.
- Known for hands-on leadership and long-term vision.
Bringing that mindset to the NBA could inject fresh energy into the Portland Trail Blazers organization.
The Blazers’ Current State
The 2024–25 season saw the Blazers finish 36–46 under head coach Chauncey Billups, who received a contract extension in the offseason.
The roster features returning superstar guard Damian Lillard, who re-signed after two seasons with the Milwaukee Bucks. His leadership will be central as the franchise transitions to new ownership.
Key Blazers Facts (2024–25 Season):
| Category | Details |
|---|---|
| Record | 36–46 |
| Head Coach | Chauncey Billups |
| Star Player | Damian Lillard |
| Arena | Moda Center |
| Founded | 1970 |
| NBA Titles | 1 (1977) |
Impact of the Sale on the Franchise
A change in ownership often signals shifts in team strategy, spending habits, and long-term goals. With Dundon’s leadership, expect:
- Potential arena upgrades to enhance fan experience.
- Aggressive player acquisition strategies to return the team to playoff contention.
- Expanded community initiatives to strengthen the franchise’s ties to Portland.
Financial and NBA Landscape Context
The sale comes amid soaring NBA franchise valuations. The most recent NBA team sale — the Phoenix Suns in 2023—closed for $4 billion. While the Blazers’ sale price has not been confirmed, experts anticipate a figure in the multi-billion-dollar range given the league’s recent financial growth.
NBA Commissioner Adam Silver has previously praised the Portland market for its dedicated fan base and consistent support, making the Blazers an attractive investment.
What’s Next for the Portland Trail Blazers?
Once the sale is finalized and approved by the NBA Board of Governors:
- Ownership Transition—Dundon’s group will assume operational control.
- Strategic Assessment—Likely a deep review of basketball operations, scouting, and player development programs.
- Fan Engagement Initiatives—Possible new marketing campaigns and fan experience upgrades.
FAQs About the Trail Blazers Sale
Q1: Who is buying the Portland Trail Blazers?
Carolina Hurricanes owner Tom Dundon is leading the purchase, with investors Marc Zahr and Sheel Tyle.
Q2: How much are the Blazers being sold for?
The sale price has not yet been disclosed but is expected to be in the multi-billion-dollar range.
Q3: Why are the Blazers being sold now?
The Paul Allen estate decided to put the team on the market in May 2025 to fulfill Allen’s philanthropic plans.
Q4: What changes might fans expect under new ownership?
Potential arena improvements, increased investment in player talent, and enhanced fan engagement programs.
Q5: Will Damian Lillard stay with the Blazers?
Yes, Lillard re-signed with the Blazers in the offseason and remains committed to the team.