The NBA Board of Governors has greenlit the sale of the Portland Trail Blazers to a group led by Tom Dundon, a Dallas businessman. This marks a significant change, as the Blazers will no longer be under the ownership of Paul Allen or his sister, Jody, for the first time since 1988.
The deal is valued at approximately $4.25 billion. It will take place in two stages: an initial sale of 80.1% at a valuation of $4 billion, closing on March 31, 2026. The remaining 19.9% will be sold at $4.5 billion, with a deadline of September 1, 2028. During the gap between these dates, Bert Kolde, who chaired the Blazers under Allen, will observe board meetings but won’t have a governance role.
Dundon is also the majority owner of the NHL’s Carolina Hurricanes and has a reputation for focusing heavily on player investments. Under his leadership, the Hurricanes went from having one of the lowest payrolls to the sixth highest in the NHL. He famously secured $300 million in public funding to renovate the Hurricanes’ arena, ensuring a 20-year lease.
In Portland, the Blazers are seeking $600 million for renovations to the Moda Center, which hasn’t seen significant updates since it opened over 30 years ago. Recently, the Oregon Legislature allocated $365 million for this purpose. This funding will come from various sources, including income tax revenues from the team, employees, and performers at the arena. Additional financial commitments are being made by Multnomah County and the Portland mayor, although these still require city council approval.
Dundon’s financial acumen is evident in his management of the Hurricanes. Since he became owner in 2021, the team has made the playoffs eight consecutive times and is currently leading the East’s Metropolitan Division.
Historically, the Blazers hold a unique place in NBA culture. Founded in 1970 by Harry Glickman, the team secured its spot in the league with a $3.7 million expansion fee. Previous owners have shaped the franchise tremendously. Allen purchased the team in 1988 for $70 million, and upon his passing in 2018, the team was managed by his sister. When the Allen estate decided to sell in May 2025, they pledged that proceeds would go to charity, marking a significant commitment to community support.
As the NBA landscape shifts, this sale reflects broader trends in sports ownership, where franchise values soar, and public funding increasingly plays a role in stadium financing. According to a recent report, NBA teams have risen in value by an average of 100% over the past decade. This sale is not just a new chapter for the Blazers but also an intriguing development in the ever-evolving world of professional sports.
For more detailed financial data about team valuations, check Forbes, which tracks the financial health of NBA franchises.
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Portland Trail Blazers, NBA, NHL, Sports Business
