Carolina Hurricanes -owner Tom Dundon hits the provisional deal to buy the Portland Trail Blazers
Tom Dundon, majority owner of the Carolina Hurricanes talks to the media about his investment of US $ 250 million in the alliance of the American Football League before the start of a NHL-Hockey game between the New York Rangers and the Carolina Hurricanes.Chris Seward/The Associated Press
Paul Allen’s estate has agreed to a provisional agreement to sell the Portland Trail Blazers to a group led by Carolina Hurricanes owner Tom Dundon.
Dundon confirmed the agreement in a text exchange with the Associated Press on Wednesday. He also confirmed plans to keep the team in Portland.
The group consists of Sheel Tyle, the co-founder of investment firm Collective Global, and Marc Zahr, co-president of Blue Owl Capital.
The NBA Board of Governors must ratify any final purchase agreement. ESPN reported on Wednesday that the deal was for US $ 4 billion. Dundon has not unveiled the sales conditions to the AP.
CNBC Earlier this year, the trail of blazers appreciated US $ 3.65 billion. In March, the Boston sold Celtics for US $ 6.1 billion.
Dundon, 53, bought an interest in the Hurricanes in 2017 and became the majority owner in 2018. He is chairman and managing partner of the company Dundon Capital Partners, based in Dallas.
Allen’s estate announced in May that it had started selling the trail wind instruments. The billionaire co-founder of Microsoft, who died in 2018 at the age of 65 on complications of non-Hodgkin lymphoma, originally bought the blazers for US $ 70 million in 1988.
Allen also had the NFL’s Seattle Seahawks and was co-owner of the Seattle Sounders of Major League Soccer.
Since his death, Allen’s sister, Jody Allen, has served as chairman of both teams and has been a trustee of the Paul G. Allen Trust. Paul Allen determined the final sale of his teams in his will, with the proceeds of philanthropic efforts.
The estate has not announced any plans for the sale of the Seahawks or the importance of 25 percent in the Sounders.
Jody Allen has reportedly rejected an offer to buy the trail blazers from Nike co-founder Phil Knight for more than US $ 2 billion in 2022. At that time there were no continuous discussions about the sale of the teams, she said in a rare statement.
