PORTLAND, Ore. (KATU) — According to Jason Quick of the Athletic, the sale of the Portland Trail Blazers to Tom Dundon’s group, has been unanimously approved by the NBA Board of Governors.
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The sale will be a two-part deal with the first part closing Tuesday, March 31. The second part will close no later than September 1, 2028.
Last week, NBA Commissioner Adam Silver said that he expected the approval from the board to happen in short order.
Paul Allen’s estate put the team up for sale in May 2025. It was announced on August 13, 2025, that Tom Dundon’s group had agreed to purchase the franchise for a valuation of over $4 billion. The Athletic is reporting the sale price is $4.25 billion.
Allen died in 2018 at the age of 65 from complications of non-Hodgkin lymphoma. He bought the team in 1988 for $70 million. Jody Allen took control of the Blazers and Seattle Seahawks following her brother’s death.
Dundon is also the owner of the NHL’s Carolina Hurricanes. He became the majority owner in 2018.
Chad Doing of Rip City Radio 620, the Portland Trail Blazers flagship radio station says that Dundon is the right man to lead the team’s next chapter. “Tom Dundon has had great success in a Carolina as owner of the Hurricanes. He’s aggressive and wants to win by all accounts, he’s willing to spend money on players. I look forward to seeing this new era in Rip City unfold.”
Earlier this month, the Oregon legislature passed a bill that would provide funding to renovate Moda Center.
This is a developing story.