The NBA Board of Governors has approved the sale of the controlling interest in the Trail Blazers to an investor group led by Tom Dundon, who will serve as the Trail Blazers’ Governor. The transaction is expected to close this week (NBA). THE ATHLETIC’s Jason Quick notes the transaction, valued at approximately $4.25B, will mark the first time since 1988 that the Blazers have not been owned by Paul Allen or his sister, Jody. The sale will be a “two-part deal,” with 80.1% being bought at a $4B valuation and “will close March 31.” The additional 19.9% is being bought at a $4.5B valuation and “will close no later than Sept. 1, 2028.” Dundon, who also owns the Hurricanes, heads a purchasing group that includes Collective Global CEO Sheel Tyle, Blue Owl co-President Marc Zahr, Panda Express owner the Cherng family and Freedom Mortgage founder and CEO Stanley Middleman (THE ATHLETIC, 3/30).