RALEIGH, N.C. (WNCN) — Reports have begun to swirl that after the Portland Trail Blazers were formally put up for sale back in May, Carolina Hurricanes owner Tom Dundon may be the team’s new owner.
Those reports were verified to CBS 17 Wednesday.
“We can confirm Tom Dundon is in the process of buying the Portland Trailblazers and is excited about the opportunity,” a source told CBS 17. This will not impact the Carolina Hurricanes, and Tom still wants to bring Major League Baseball to North Carolina.”
Earlier Wednesday, ESPN Senior NBA Insider Shams Charania, sources said Dundon has agreed to buy the NBA team from the estate of Paul G. Allen for a valuation of over $4 billion. Immediately following Sham’s announcement on social media, the Canes took to X to respond to the report with the reply “@ us next time.”
ESPN previously reported that Allen’s estate was for sale in May after he died from cancer back in 2018. Jody Allen, who has been acting as the team’s governor, is the executor of the Paul Allen Trust. According to the Trail Blazers in May, proceeds of the NBA franchise would go to philanthropy.
“The estate of Paul G. Allen announced it has commenced a formal sales process for the Portland Trail Blazers NBA franchise consistent with Allen’s directive to eventually sell his sports holdings and direct all estate proceeds to philanthropy,” the team said on social media.
The team said in May that this sale does not impact the Seattle Seahawks’ NFL franchise or the estate’s 25% interest in the Seattle Sounders MLS soccer team — which is also owned by the Allen family.
This is a developing story.