Carolina Hurricanes owner Tom Dundon has reached a deal to purchase the Portland Trail Blazers from the estate of Paul Allen.
Sportico reported that the ownership group includes Blue Owl Capital co-president Marc Zahr and Portland-based Sheel Tyle, co-CEO of Collective Global.
In May 2025, Allen’s estate officially put the Blazers on the market, saying proceeds would be used for philanthropy.
Carolina Hurricanes owner Tom Dundon has reached a deal to purchase the Portland Trail Blazers from the estate of Paul Allen, a person with knowledge of the agreement confirmed to USA TODAY Sports.
The person requested anonymity they were not authorized to speak publicly until the team makes an announcement.
The sale price is not yet available.
Allen died in 2018, and in 2023, Jody Allen, Allen’s sister and chairperson of the Blazers, Seattle Seahawks and trustee of the Allen estate, said, “As we’ve stated before, neither of the teams is for sale and there are no sales discussions happening.
‘A time will come when that changes given Paul’s plans to dedicate the vast majority of his wealth to philanthropy, but estates of this size and complexity can take 10 to 20 years to wind down. There is no pre-ordained timeline by which the teams must be sold. Until then, my focus – and that of our teams – is on winning.”
In May 2025, the estate officially put the Blazers on the market, saying proceeds would be used for philanthropy.
Last season, the Blazers were 36-46 under coach Chauncey Billups, who received an extension in the offseason. Veteran All-Star guard Damian Lillard signed a deal with the Blazers in the offseason after spending the past two seasons with the Milwaukee Bucks.