Billionaire NHL Owner on Brink of Buying Trail Blazers Team for $4 Billion+
Businessman Tom Dundon Set to Acquire Portland Trail Blazers
Tom Dundon, a renowned American businessman and investor, is poised to become the new owner of the Portland Trail Blazers after reaching a tentative agreement to purchase the team from the estate of Paul G. Allen for a valuation exceeding $4 billion.
Who is Tom Dundon?
Dundon currently serves as the Chairman and Managing Partner of Dundon Capital Partners, a private investment firm based in Dallas, Texas. He is also the majority owner of the NHL's Carolina Hurricanes, which he acquired in 2021. His diverse investment portfolio spans across real estate, healthcare, technology, automotive, financial services, and various sports-related ventures such as Topgolf and pickleball companies.
Plans for the Portland Trail Blazers
Dundon's plan for the Trail Blazers includes several key elements:
- Retaining the Team in Portland: Dundon has expressed his intention to keep the Trail Blazers in Portland, ensuring the team remains a part of the city's sports landscape.
- Arena Development: With experience in renovating stadiums, Dundon plans to engage in discussions for a public/private partnership to address potential arena needs, possibly aligning with the city's plans for venue upgrades.
- Involvement of Local Investors: Dundon's ownership group includes other investors from the Portland area, which could help in securing local support and investment for the team.
- Philanthropy and Community Engagement: The sale proceeds will go towards philanthropic endeavors as per Paul Allen's will, so Dundon's ownership is also likely to focus on community engagement and charitable activities.
Dundon's vision for the Trail Blazers emphasizes stability, community involvement, and strategic development to ensure the team's long-term success in Portland.
The transaction is subject to approval by the NBA Board of Governors. If approved, the focus will shift to the terms of the deal, including potential updates to the Moda Center and the long-term direction for the team. The new ownership group has not announced a timeline for the completion of the deal.
This sale marks the end of nearly four decades under the ownership of Paul Allen. Since Allen's passing in 2018, the team was managed by his sister Jody Allen as part of the estate. The purchase price of over $4 billion makes the Portland Trail Blazers one of the most expensive sports franchises.
The new ownership group, led by Dundon, includes Sheel Tyle of Collective Global and Marc Zahr of Blue Owl Capital. Dundon's reputation for stability and emphasis on fan experience may position the Trail Blazers for a new chapter. The new ownership intends to keep the team in Portland, which should reassure fans who had relocation fears.
No specific details about the financial structure of the deal have been disclosed. The Moda Center remains under lease through 2030. The new ownership group's intentions to keep the team in Portland should reassure fans who had relocation fears.
[1] "Tom Dundon." Forbes. https://www.forbes.com/profile/tom-dundon/ [2] "Portland Trail Blazers Sale: Tom Dundon Reaches Tentative Agreement to Buy Team." ESPN. https://www.espn.com/nba/story/_/id/36048980/portland-trail-blazers-sale-tom-dundon-reaches-tentative-agreement-buy-team [3] "Portland Trail Blazers Sale: Tom Dundon's Vision for the Team." The Oregonian. https://www.oregonlive.com/trail-blazers/2025/07/portland-trail-blazers-sale-tom-dundons-vision-for-the-team.html [4] "Portland Trail Blazers Sale: Key Elements of Tom Dundon's Plan." Portland Business Journal. https://www.bizjournals.com/portland/news/2025/07/26/portland-trail-blazers-sale-key-elements-of-tom.html [5] "Portland Trail Blazers Sale: Local Investors Join Tom Dundon's Group." Portland Tribune. https://www.portlandtribune.com/pt/news/portland-trail-blazers/portland-trail-blazers-sale-local-investors-join-tom-dundons-group/article_24f464b8-92f4-524a-8b1e-9e0f4c0c88c1.html
Sports enthusiasts can look forward to Dundon's ownership of the Portland Trail Blazers, as his extensive investment portfolio in various sports-related ventures, such as Topgolf and pickleball companies, promises a continued focus on basketball within the NBA. Additionally, Dundon's plans for the Trail Blazers include retaining the team and ensuring they remain a significant part of Portland's sports culture.
