As reported by Sportico, Tom Dundon, the proprietor of the Carolina Hurricanes, has come to a consensus to procure the Portland Trail Blazers. In this prospective arrangement, Dundon is set to obtain the NBA team from the inheritance of the late Paul Allen. Further details from Sportico suggest that Marc Zahr, the co-president of Blue Owl Capital, along with Sheel Tyle, a Portland local and co-CEO of Collective Global, are expected to accompany Dundon in the acquisition of the Trail Blazers. It is understood that the group intends to maintain the team’s current location should the transaction materialize.
While the specific stipulations of the accord and the conclusive date of the transaction remain undisclosed, Shams Charania from ESPN indicates that the estimated value of the Trail Blazers stands at $4 billion. It’s essential to note that any transfer of ownership is contingent upon the league’s endorsement.
Allen, famously known as the co-founder of Microsoft alongside Bill Gates, initially secured the Trail Blazers for $70 million back in 1988. In addition to this, the entrepreneur acquired the Seattle Seahawks and held a substantial fractional ownership in Seattle Sounders of the MLS. Following Allen’s passing in 2018, his testamentary directives stipulated the divestiture of all owned equities.
Since Allen’s departure, his sister, Jody, has been officiating as the proprietor of both the Trail Blazers and the Seahawks, concurrently fulfilling her role as the executor of his estate.
In a parallel context, Dundon has been at the helm of the Hurricanes since his acquisition of the NHL franchise in 2018 for $425 million. Beyond this venture, he possesses the majority stake in both the PPA Tour and Major League Pickleball.
