Tom Dundon, owner of the Carolina Hurricanes, speaks to media before an NHL game against the New York Rangers at PNC Arena in Raleigh, North Carolina, on Feb. 19, 2019.
Karl Deblaker | National Hockey League | Getty Images
Carolina Hurricanes owner Tom Dundon has reached a tentative agreement to buy the Portland Trail Blazers from Paul Allen’s estate, Dundon told CNBC.
Dundon declined to provide the terms of the proposed sale but said he’s “very excited.” CNBC’s latest Official NBA Team Valuations listed the Trail Blazers at a value of $3.65 billion.
The 53-year-old businessman is chairman of Dundon Capital Partners based in Dallas, Texas.
He’s also a passionate sports owner. He agreed to purchase a controlling stake in the Carolina Hurricanes in 2017, and he’s the majority owner of the Pro Pickleball Association and Major League Pickleball.
If his purchase of the Trail Blazers is approved, Dundon and his ownership team would take over ownership from the estate of the late Microsoft co-founder. Allen’s sister Jody Allen has been managing the the team since his death in 2018.
In 2022, Nike co-founder Phil Knight reportedly offered over $2 billion for the team, but Allen declined.
The NBA declined to comment. The Trail Blazers didn’t immediately return request for comment. Sportico first reported news of the sale.
— CNBC’s Michael Ozanian contributed to this report.
