Trail Blazers Ownership Announces Formal Agreement in Place to Sell the Franchise

The Allen family will be selling the basketball franchise to Carolina Hurricanes owner Tom Dundon.

The Trail Blazers are set to sell to Tom Dundon, owner of the NHL's Hurricanes. / Jaime Valdez-Imagn Images

The Allen family estate has announced formal plans to sell its majority stake in the Trail Blazers, according to Bill Oram of The Oregonian.

The franchise will be sold to a group led by Tom Dundon, the majority owner of the NHL's Hurricanes, for a price that is expected to exceed $4 billion. The sale is anticipated to close by the end of the 2025–26 basketball season.

Paul Allen, the late co-founder of Microsoft, purchased the team in 1988 for $70 million. He died in 2018 from non-Hodgkin's lymphoma, and his will stated that all of his sports holdings should be sold after his death.

As for Dundon, the 53-year-old has owned the Hurricanes since 2018 and the franchise has reached the conference finals three times since he purchased the team.

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