Tom Dundon Leads $4 Billion Purchase of Portland Trail Blazers—Franchise to Remain in Portland

The Portland Trail Blazers are entering a new era. Billionaire businessman and sports investor Tom Dundon has reached a tentative agreement to purchase the NBA franchise from the estate of late Microsoft co-founder Paul Allen. The deal, reported on August 13, 2025, is expected to keep the beloved team rooted in Portland.

Dundon, already known in the sports world as the owner of the NHL’s Carolina Hurricanes, is acquiring the Trail Blazers for an estimated $4 billion. While the final price has not been disclosed publicly, the valuation aligns with recent estimates placing the team’s worth at $3.65 billion. This sale marks a major milestone for the Allen estate, which began formally seeking a buyer in May 2025.

Why Tom Dundon Bought the Portland Trail Blazers

Tom Dundon, 53, is no stranger to high-stakes sports business. As the chairman of Dallas-based Dundon Capital Partners and owner of the Carolina Hurricanes since 2018, Dundon has earned a reputation for turning teams around. Under his leadership, the Hurricanes ended a nine-year playoff drought and became consistent contenders in the NHL.

The Trail Blazers, historically one of the most community-rooted franchises in the NBA, have long been a pillar of Portland’s identity. Dundon’s acquisition ensures the team won’t be relocated, a key concern for fans after Paul Allen’s passing in 2018. Dundon has made it clear his intention is not only to preserve but elevate the Trail Blazers’ legacy in Portland.

Dundon’s group includes respected investment partners such as Marc Zahr of Blue Owl Capital and Sheel Tyle of Amplo. Together, they plan to keep the team’s operations in Portland and work with local leadership on possible renovations to the aging Moda Center.

What Dundon’s Ownership Means for the Blazers’ Future

Fans and analysts are already speculating about the direction the team will take under Dundon’s ownership. Given his track record in sports and his investments in technology, entertainment, and real estate, expectations are high.

• No Relocation: The team will remain in Portland. This point has been repeatedly emphasized to reassure the fanbase.

• Arena Upgrades Likely: The Moda Center, over 30 years old, may be modernized or replaced to improve the fan experience and revenue potential.

• Performance Focus: Dundon’s previous sports ownership shows a commitment to winning. A similar focus on competitiveness is expected for the Trail Blazers.

• Strong Financial Backing: With a net worth in the billions and strong private equity connections, Dundon’s group brings financial muscle to improve team infrastructure and operations.

NBA Board of Governors approval is still pending, a standard step for all franchise sales, but insiders expect a smooth approval process. If successful, Dundon will join the growing list of tech-wealth-backed NBA owners reshaping the league.

Paul Allen’s Legacy and the Sale Process

Paul Allen purchased the Trail Blazers in 1988 and remained a deeply committed owner until his passing in 2018. Afterward, his sister, Jody Allen, served as the team’s chairperson as part of her role managing the estate. Paul Allen’s will stipulated that his assets, including the Trail Blazers, be sold with the proceeds directed toward philanthropic causes.

Over the years, there was speculation that the team might be moved or sold to out-of-town interests. However, the final agreement with Dundon and his group reinforces Allen’s original vision—keeping the franchise anchored in Portland and committed to the community.

This sale also raises questions about the future of other Allen-owned assets, such as the Seattle Seahawks. While no official word has been released, sports industry observers expect more movement from the estate in the coming months.

The Portland Trail Blazers, under new ownership, are expected to remain in Portland, revitalize fan experience, and aim for playoff contention—ushering in a promising new era for Rip City.

You Must Know:

Who is Tom Dundon, the new Trail Blazers owner?
Tom Dundon is a billionaire entrepreneur and sports investor known for turning around the Carolina Hurricanes in the NHL. He leads Dundon Capital Partners and now owns the Portland Trail Blazers.

Will the Portland Trail Blazers move to another city?
No. The new ownership group led by Tom Dundon has stated the team will stay in Portland. Keeping the franchise local was a key part of the purchase agreement.

How much did Tom Dundon pay for the Trail Blazers?
The final sale price was not disclosed, but estimates suggest the value is around $4 billion, aligning with previous valuations of the team.

What will happen to the Moda Center?
While no official announcement has been made, upgrades or a possible rebuild of the aging Moda Center are likely under Dundon’s ownership to improve the fan experience.

What does this sale mean for other Paul Allen-owned teams?
The Trail Blazers sale may signal movement on other Paul Allen-owned sports properties like the Seattle Seahawks, though no announcements have been made yet.

When will Tom Dundon officially take over?
The sale is pending approval by the NBA Board of Governors, which is expected to be finalized in the coming months.