Mar 30, 2026
3 min read
The NBA's board of trustees on Monday approved the sale of a controlling stake in the Portland Trail Blazers from Paul Allen's estate to a group led by investor Tom Dundon.
NEW YORK - The NBA's board of governors approved the sale of a controlling interest in Paul Allen's estate from Paul Allen's estate to a group led by investor Tom Dundon on Monday.
The league said it expects to close the deal this week, which was previously reported to be $4 billion.The Boston Celtics were sold for $6.1 billion in March.
Dundon's group 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. Earlier this month, Dundon sold a portion of the NHL's Carolina Hurricanes to three new minority owners, a transaction reportedly worth $332.5 million for 12.5% of the team.
Dundon bought a stake in the Hurricanes in 2017, becoming the majority owner in 2018 and taking sole ownership of the club in 2021.He is president and managing partner of Dallas-based Dundon Capital Partners.
Approval of the sale of the Trail Blazers comes after the Oregon Legislature approved funding for the renovation of the Moda Center in early March.The measure gives the state joint ownership of the 30-year-old arena with the city and provides a mechanism to secure $365 million to renovate the building.It also reduces concerns that new ownership might move the team to another city.
Allen Real Estate announced in May that it had begun the process of selling the Trail Blazers.The billionaire founder of Microsoft, who died in 2018 at age 65 of complications from non-Hodgkin's lymphoma, originally bought the Blazers in 1988 for $70 million.
Allen also owns the NFL's Seattle Seahawks and a minority stake in Major League Soccer's Seattle Sounders.
Since his death, Allen's sister, Jody Allen, has been the president of the Blazers and Seahawks and is a trustee of the Paul G. Allen Trust.Paul Allen stated in his will that he would eventually sell his bands, with the proceeds going to charity.The Allen estate announced it would begin selling the Seahawks in mid-February, about two weeks after the team captured its second Super Bowl championship.
