The Paul G. Allen Estate will retain a 20 percent share in the Blazers under the terms outlined in the proposed sale to Tom Dundon’s group. John Canzano reported on details of the agreement today.
If the sale is approved by the league, Dundon becomes the “majority governor” despite owning a slightly smaller percentage of the team. He’ll represent the Portland franchise at league Board of Governors meetings.
The deal is expected to close in March 2026 and Dundon will become the team’s majority owner when it does. A second transaction will take place at a later date for Dundon to buy the remaining stake in the team from the Allen estate. Jody Allen is currently the team’s governor; Dundon will replace her as governor after his first payment.
Similar ownership agreements are common in recent NBA team sales.
Local media member Sean Highkin is now disputing the report from Canzano, citing a spokesperson from the Allen Estate:
A spokesperson for the Allen estate said on Friday that the report is “unequivocally false,” and that once the sale closes, the Blazers will be owned entirely by Dundon’s group, with the estate having no remaining stake in the team.