A source said that the sale of the NBA team to Hurricanes owner Tom Dundon and his group is “expected to close by the end of the year.” Getty Images
The estate of the late Paul Allen announced that it has “reached a formal agreement” to sell the Trail Blazers to a group led by Hurricanes owner Tom Dundon. A source said that the deal is “expected to close by the end of the year with a valuation” of $4.25B. Dundon’s group includes Blue Owl Capital co-President Marc Zahr as well as Collective Global CEO Sheel Tyle. The announcement added that the group “also now includes” the Cherng Family Trust, which is led by Panda Express co-founder Andrew Cherng and his wife (Portland OREGONIAN, 9/12).
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