🏀🚨 EXCLUSIVE: Tom Dundon, owner of the @Canes, has reached a tentative agreement to buy the @trailblazers from Paul Allen’s estate.
Dundon bought the Hurricanes in 2018 for $450 million. His group intends to keep the NBA team in Portland. pic.twitter.com/nG1DibP0mk
— Sportico (@Sportico) August 13, 2025
The Portland Trail Blazers will reportedly sell to Carolina Hurricanes owner Tom Dundon, which is interesting news for both NHL and NBA fans alike.
The news, which was originally reported by Sportico, led many folks to wonder the same question: Will the Trail Blazers remain in Portland considering that the Dallas-based Dundon is not otherwise affiliated with the Pacific Northwest. His other major sports asset, the Canes, is based in North Carolina.
Fortunately for basketball fans in Oregon, the answer to that question is simple: Yes, according to Sportico and as confirmed by The Oregonian, the Trail Blazers will indeed remain in Portland.
Here is more on the agreement, per Sportico:
“Others in the group include Blue Owl Capital co-president Marc Zahr and Portland-based Sheel Tyle, co-CEO of Collective Global, according to the people, who were granted anonymity because the details were private. The new group intends to keep the team in Portland, the people said.”
Tyle, who lives in Portland, is married to Sejal Hathi. She is the director of the Oregon Health Authority.
The Oregonian expanded on that reporting:
A source familiar with the proceedings said the group “is passionate about basketball and intends to keep the team in Portland, where it belongs.”
According to ESPN’s Shams Charania, the sale has a valuation of “over $4 billion” for the Trail Blazers.
The NBA’s board of governors still must approve the sale before it becomes official.