Carolina Hurricanes owner Tom Dundon has agreed to buy the Portland Trail Blazers from the estate of Paul G. Allen for in excess of $4 billion. ESPN’s Shams Charania was first to report.
Allen bought the Blazers in 1988 for $70 million. He passed away in 2018 and his will directed the team be sold.
Dundon bought the Hurricanes in 2018 for $425 million. He is also the majority owner of the PPA (Professional Pickleball Association) Tour and Major League Pickleball.
According to Bill Oram of The Oregonian, the new ownership group intends on keeping the team in Portland.
Hilariously, the Hurricanes Twitter/X account replied to Charania requesting to be tagged next time. As of Wednesday afternoon, the ESPN reporter has 3.2 million followers on the platform, compared to the Canes’ 592,330.
Blazers Add To List Of NBA Franchise Sales
Six NBA teams have been previously sold since 2023: The Charlotte Hornets, Dallas Mavericks, Phoenix Suns, Minnesota Timberwolves, Boston Celtics and Los Angeles Lakers.
Portland is now the seventh.
It’s worth wondering just how much of an influence the exorbitant tax implications of the second apron are having on these sales. Ownership groups that bought teams a long time ago possibly see maximum value in selling right now before profits are cut into.
Of course, in the case of Allen, the sale of the Blazers was precipitated by his passing and the instructions of his will.
While not a full sale, it’s worth noting Marc Lasry also sold his 25 percent stake in the Milwaukee Bucks a couple of years ago as well.
Blazers Entering New Era
Portland appears on the verge of exiting a rebuild and looking to compete for a playoff spot.
Young players like Deni Avdija, Toumani Camara and Scoot Henderson have emerged. The team flourished down the stretch last season and has added veteran leadership and a proven winner in Jrue Holiday.
Signing franchise icon Damian Lillard further highlights the influx of veteran leadership. If he can perform anywhere near his best in 2026-27 once he’s recovered from his ruptured Achilles, the Blazers could be an intriguing team.
Head coach Chauncey Billups was signed to a contract extension this offseason as well.
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