Late Portland Trail Blazers’ owner Paul Allen’s estate agrees to $4.25 billion sale
The NBA has seen a significant change in ownership in recent seasons. As the league continues to grow, so does the money. This has led to a lot of the previous owners of teams selling them at high valuations. The Dallas Mavericks, Boston Celtics, and Los Angeles Lakers have all been sold in recent times, among others.
The latest team to become a part of this trend is none other than the Portland Trail Blazers. The majority stake in the franchise is owned by the estate of the late Paul Allen, and they have now agreed to a $4.25 billion sale to a group led by Tom Dundon.
RELATED: Mark Cuban immediately told Dallas Mavericks owners trading Luka Doncic was a mistake
"Paul Allen’s estate announced Friday that it has reached a formal agreement to sell the Portland Trail Blazers to a group led by Carolina Hurricanes owner Tom Dundon," The Oregonian reported. "The deal is expected to close by the end of the year with a valuation of $4.25 billion.
"As previously reported, Dundon’s group includes Blue Owl Capital co-president Marc Zahr, as well as Sheel Tyle, the CEO of Collective Global, who lives in the Portland area. The group also now includes the Cherng Family Trust, according to the estate’s announcement."
With new ownership on the horizon, young talents on the roster, and the return of franchise icon Damian Lillard, the future is bright in Portland. For fans of the franchise, just being competitive once again as soon as possible will be more than enough to make them happy.
GET MORE TOP STORIES from The Big Lead by subscribing to TBL YouTube channel
FRIDAY ROUNDUP: Packers look legit, AFC North bulletin board material, and more
CFB: 3 college football teams with the most to prove in Week 3
NBA: Phoenix Suns reporter fired in wake of Charlie Kirk social media posts
SPORTS MEDIA: NFL announcer schedule & pairings for Week 2 of 2025 season
VIRAL: Best uniform combinations for college football Week 3