The Portland Trail Blazers have reached a landmark sale agreement with a group led by Tom Dundon, the billionaire owner of the NHL’s Carolina Hurricanes, Sportico was first to report. The deal is reportedly valued at $4.25 billion, joining a string of multibillion-dollar NBA franchise deals in recent months, a product of new, lucrative media rights deals with Amazon, NBC, and ESPN.
Dundon, a Dallas-based businessman, steps to the forefront as the principal buyer, and is joined by investor Marc Zahr, co-president of Blue Owl Capital, and Sheel Tyle, a Portland-based venture capitalist whose local ties reassure fans concerned about the franchise’s future. Dundon’s sports credentials include his successful turnaround of the Carolina Hurricanes, where he guided the franchise from drought to consistent playoff contention following his 2018 purchase for about $420 million.
