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NBA approves Portland Trail Blazers’ sale to Tom Dundon at $4.25 billion valuation: Source
New Trail Blazers owner Tom Dundon, left, also owns the NHL's Carolina Hurricanes. Bruce Bennett / Getty Images
The NBA Board of Governors has approved the sale of the Portland Trail Blazers to a group led by Dallas businessman Tom Dundon, the league announced Monday.
The transaction, valued at approximately $4.25 billion, will mark the first time since 1988 that the Blazers have not been owned by Paul Allen or his sister, Jody. The sale will be a two-part deal: 80.1 percent is being bought at a $4 billion valuation and will close March 31. The additional 19.9 percent is being bought at a $4.5 billion valuation and will close no later than Sept. 1, 2028. During the interim period between March 31, 2026, and the second closing, Bert Kolde, chairman of the Blazers under Allen, will observe board meetings but will have no involvement or governance, according to a source with knowledge of the transaction.
New NBA owner played key role at company accused of predatory lending
Oregon Gov. Tina Kotek is on the verge of giving the Portland Trail Blazers a major gift: hundreds of millions in taxpayer dollars to overhaul the team’s arena in an effort to keep the Blazers’ incoming owner, billionaire Tom Dundon, from moving the NBA franchise to a new city.
The deal came together with little public discussion of how Oregon and other states in 2020 landed a $550 million settlement with the car loan company where Dundon built his wealth. The settlement followed an investigation into lending practices that Oregon’s then-attorney general, in a news release, described as “predatory and harmful.”
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NBA Board of Governors OKs sale of Blazers to group led by Tom Dundon
The NBA approved the sale of the Blazers to an ownership group lead by Tom Dundon.
NEW YORK — The NBA Board of Governors has approved the sale of the controlling interest in the Portland Trail Blazers to an investor group led by Tom Dundon, who will serve as the Trail Blazers’ Governor. The transaction is expected to close this week.
In alignment with the late Paul Allen’s directive, all proceeds from the sale of the team will go to philanthropic endeavors.
Jody Allen, the chair of the Portland Trail Blazers and Seattle Seahawks, said neither team is currently for sale.
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