The NBA Board of Governors has officially approved the sale of the Portland Trail Blazers to a group led by Dallas businessman Tom Dundon. The deal, valued at $4.25 billion, ends nearly four decades of ownership by the Allen family, dating back to 1988.
Structure of the Two-Part Deal
The transaction is structured in two distinct phases to complete the full transfer of the franchise:
- Initial Phase: 80.1% of the team is being purchased at a $4 billion valuation, set to close on March 31, 2026.
- Final Phase: The remaining 19.9% will be acquired at a $4.5 billion valuation, closing no later than September 1, 2028.
The New Ownership Group
Tom Dundon, who also owns the NHL’s Carolina Hurricanes, leads a diverse consortium of investors including:
- Sheel Tyle: CEO of Collective Global.
- Marc Zahr: Co-president of Blue Owl.
- The Cherng Family: Owners of Panda Express.
- Stanley Middleman: CEO of Freedom Mortgage and partial owner of the Philadelphia Phillies.
Arena Renovations and Future Outlook
Dundon’s arrival comes as the Blazers seek $600 million to renovate the aging Moda Center. The Oregon Legislature has already pledged $365 million toward the project, funded primarily through income tax revenues from team employees and performers at the arena. Known for his analytics-driven approach and willingness to invest in player payroll, Dundon is expected to bring the same “swagger” to Portland that helped turn the Hurricanes into a perennial NHL contender.