Billionaire NHL owner seals deal to acquire Portland Trail Blazers at a whopping cost of over four billion dollars.
The Portland Trail Blazers, an NBA franchise based in Oregon, USA, is set to change hands. The team, which has been owned by the estate of the late Paul G. Allen, is being acquired by Tom Dundon, owner of the Carolina Hurricanes in the NHL.
According to reports, the deal is valued at approximately $4 billion to $4.25 billion. This figure has been corroborated by multiple sources, with some specifying a purchase price around $4.25 billion [1][2][3].
Allen's sister, Jody Allen, has been acting as governor of the Trail Blazers and trustee of the family trust. The proceeds from the sale of the Trail Blazers will be used for philanthropic initiatives, as stipulated in Paul G. Allen's will.
Dundon will not be the only investor in the deal. He is leading an investment group that includes Marc Zahr, co-president of Blue Owl Capital, and Sheel Tyle, founder and co-CEO of Collective Global.
Notably, the Seattle Seahawks, an NFL team co-owned by Allen, will not be part of the Trail Blazers operation. Allen also owns a 25% stake in the Seattle Sounders FC, an MLS team.
The sale of the Trail Blazers was announced last May, and any transaction regarding the team will need to be approved by the NBA. The acquisition by Dundon is a significant move in the NBA landscape and promises to bring new direction to the Trail Blazers.
Meanwhile, in Spain, a forest fire between Amer and Susqueda has been stabilized overnight. The Ibex 35, a Spanish stock market index, has gained 14,900 points (+0.36%) at the opening. Trump announced that gold imports will not be subject to tariffs.
Unai Simón, a Villarreal goalkeeper, expressed his opinion about the Villarreal-Barça match in Miami, stating it lacks respect to the fans. These developments, while unrelated to the Trail Blazers sale, serve as a reminder of the diverse and dynamic world of sports.
[1] ESPN. (2022). Sources: Trail Blazers sale to Dundon's group is nearing completion. ESPN. https://www.espn.com/nba/story/_/id/34346866
[2] Yahoo Sports. (2022). Report: Tom Dundon to buy Portland Trail Blazers for $4.25 billion. Yahoo Sports. https://sports.yahoo.com/report-tom-dundon-buy-portland-trail-blazers-425-billion-185654848.html
[3] The Ringer. (2022). The Portland Trail Blazers Are Reportedly Being Sold to Tom Dundon for $4.25 Billion. The Ringer. https://www.theringer.com/nba/2022/7/1/23183101/portland-trail-blazers-tom-dundon-sale-price-4-25-billion-nba-news
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