Who is Tom Dundon? Everything to Know About New Blazers Owner

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The Portland Trail Blazers have reportedly reached an agreement with American businessman Tom Dundon to purchase the franchise from the estate of Paul G. Allen for a valuation of over $4 billion, per ESPN’s Shams Charania. 

NHL Carolina Hurricanes owner Tom Dundon has agreed to buy the Portland Trail Blazers from the estate of Paul G. Allen for a valuation of over $4 billion, sources tell ESPN.

— Shams Charania (@ShamsCharania) August 13, 2025

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Allen, who co-founded Microsoft with Bill Gates, requested that his sports teams be sold and the proceeds be donated to philanthropy in his will. Allen passed away in 2018 due to complications with non-Hodgkin’s lymphoma, and his sister has been the owner of his NBA and NFL (Seattle Seahawks) teams ever since.

Dundon is the Chairman and Managing Partner of Dundon Capital Partners, which is a private investment firm based in Dallas, Texas. Dundon, 53, was born in New York and raised in Dallas, where he has continued to run his firm.

After earning a Bachelor’s degree in Economics from Southern Methodist University in Texas, Dundon began investing in sports entertainment and other fields such as health care, real estate and hospitality, technology, automotive and financial services.

Dundon is now the principal owner and governor of the National Hockey League’s Carolina Hurricanes. He purchased a majority stake (52%) in the organization and the operating rights to PNC Arena for $420 million. Then, he acquired the remaining minority shares, which made him the Hurricanes’ sole owner.

In addition to the Hurricanes, Dundon is involved in the rising sport of pickleball. He is the majority owner of the PPA Tour and Major League Pickleball.

In his first full season as the Hurricanes’ owner in 2018, Carolina made it to the Stanley Cup Playoffs for the first time in a decade. Ever since Dundon took ownership, the Hurricanes have been to the playoffs for seven consecutive seasons.

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The Trail Blazers have not been to the NBA playoffs since the 2020-21 season, when they lost in the Western Conference First Round for the second straight season.

Portland won the NBA Finals in 1977 to mark the franchise’s only championship. The Trail Blazers have played in two NBA Finals since then in 1990 and 1992, but ultimately lost to the Detroit Pistons and Chicago Bulls, respectively.

If Dundon is able to bring his success with the Hurricanes to the Trail Blazers, Portland could become playoff contenders for the first time in five years.

For more news and notes on the Portland Trail Blazers, visit Portland Trail Blazers on SI.