Trending Now - Tom Dundon Acquires Portland Trail Blazers for $4.1 Billion
WHO:
Sportskeeda - Tom Dundon is the new owner of the Portland Trail Blazers.
ESPN - Dundon's group includes Sheel Tyle, Marc Zahr, and the Cherng Family Trust.
ESPN - Jody Allen has served as chair of both the Blazers and Seahawks since her brother's death.
WHAT:
KATU - The sale will be a two-part deal with the first part closing on March 31st, 2026, and the second part closing no later than September 1st, 2028.
ESPN - The sale price is reported to be $4.25 billion, differing from the previously stated $4.1 billion.
Pro Football Network - The NBA approved the sale of the Portland Trail Blazers for $4.1 billion.
ESPN - The deal is expected to close within the week.
ESPN - The Boston Celtics were sold for $6.1 billion in March 2026.
ESPN - Dundon sold a portion of the NHL's Carolina Hurricanes for $332.5 million for 12.5% of the team.
WHERE:
ESPN - The Portland Trail Blazers are based in Portland, Oregon.
ESPN - The Moda Center is the arena associated with the Trail Blazers.
WHEN:
KATU - Paul Allen’s estate put the team up for sale in May 2025.
KATU - It was announced on August 13th, 2025, that Tom Dundon’s group had agreed to purchase the franchise.
ESPN - The NBA Board of Governors approved the sale on March 30th, 2026.
ESPN - The Oregon Legislature approved funds for the renovation of the Moda Center in early March 2026.
ESPN - Paul Allen's estate announced the sale process began in May 2022.
WHY:
ESPN - The sale was initiated as per Paul Allen's will, which stipulated the eventual sale of his teams for philanthropic endeavors.
HOW:
ESPN - NBA Commissioner Adam Silver stated that he expected the approval from the board to happen in short order prior to the sale's approval.
ESPN - The sale was approved unanimously by the NBA Board of Governors.
(UPDATED March 31, 2026 03:52 UTC)
The sale of the NBA franchise, which was put on the market by Paul Allen's estate in May 20th25, is set to close in two parts, with the first part happening on Tuesday, and the second part by September 1stst, 2028. The reported sale price has increased to $4.25 billion, up from the previously stated $4.1 billion, following the announcement August 13thth, 2025, that Tom Dundon's group would be purchasing the team. NBA Commissioner Adam Silver has indicated that he anticipates swift approval from the board before the sale is finalized.
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(UPDATED March 31, 2026 01:21 UTC)
The NBA Board of Governors unanimously approved the sale of the Portland Trail Blazers to Tom Dundon and his group for $4.1 billion, with the deal expected to close within the week. Dundon's team includes notable figures such as Sheel Tyle, Marc Zahr, and the Cherng Family Trust, and this sale comes as part of the process initiated by Paul Allen's will, which called for the sale of his teams for philanthropic purposes. Jody Allen has been serving as chair of both the Blazers and Seahawks since her brother's death, overseeing the transition as the franchise prepares for its new ownership in Portland, Oregon.