The Trail Blazers have reportedly been sold to an ownership group that will keep the team in Portland, according to reporting from Sportico.
Tom Dundon, owner of the NHL’s Carolina Hurricanes, is leading the ownership group. Sportico reports that Marc Zahr of Blue Owl Capital and Portland-based Sheel Tyle of Collective Global are also involved. Tyle is married to Sejal Hathi, who runs the Oregon Health Authority.
Microsoft co-founder Paul Allen bought the Blazers in 1988 and owned the franchise until his death in 2018. Since then, the team has been operated by the family’s estate.
Prior to his death, Allen directed proceeds from an eventual sale to go to philanthropy, according to the Trail Blazers. The team officially went up for sale earlier this year.
It’s unclear how much Dundon’s group will pay for the team, but it’s been valued upwards of $4 billion. ESPN reported the sale is valued at more than $4 billion. The final sale will need approval from the NBA.
This story will be updated.
This story comes to you from the Northwest News Network, a collaboration between public media organizations in Oregon and Washington.
