The Portland Trail Blazers are set for a new chapter. Tom Dundon, the owner of the Carolina Hurricanes, is buying the team. He’s joined by notable figures like Marc Zahr from Blue Owl Capital and CEO Sheel Tyle, who’s based in Portland. This deal is said to be over $4 billion, although the final price hasn’t been officially confirmed.
Dundon seems committed to keeping the team in Portland, easing worries that had grown after the announcement of the sale by Paul Allen’s estate. There was concern about the Blazers’ fate since Jody Allen, Paul’s sister, had indicated plans to sell. Local leaders quickly rallied to form “Rip City Forever” to advocate for the team’s home in Portland.
One team source noted, “The biggest thing at this point is that the team is staying in Portland.” That’s a relief for many fans. As Dundon gets ready to take control, he’s interested in involving local investors, with potential interest from Tim Boyle, the president of Columbia Sportswear.
Dundon, a savvy businessman, became majority owner of the Hurricanes in 2018 and has also invested in companies like Topgolf. His leadership style is being watched closely as he takes on the challenge of revitalizing the Blazers, including potentially renovating or even replacing the aging Moda Center.
Interestingly, the NBA recently highlighted the need for a new arena. This could shape the team’s future and its relationship with Portland. Local sentiment is strong. A survey by The Oregonian found that over 70% of residents feel positively about the Blazers remaining in the city.
In the coming months, the sale must get approval from the NBA’s board of governors. This process may take time, as seen when Bill Chisolm’s bid for the Boston Celtics was announced in March but hasn’t yet been finalized.
As fans and local leaders watch closely, the future of the Blazers looks promising. With passionate local support and strong leadership from Dundon, the team is poised to thrive in Portland for years to come. This change could bring not only stability but also renewed energy to the beloved franchise.
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