A “target date of March 31, 2026, has been set for the close” of the sale of the Trail Blazers to Hurricanes owner Tom Dundon, according to Jason Quick of THE ATHLETIC. A source said that Dundon’s group is “in the process of negotiating documents,” but “all major points have been agreed upon.” Quick notes Dundon reached an “exclusivity agreement with Paul Allen’s estate, which means there will be no negotiations with other interested buyers.” The “hope is to have a purchase agreement signed in September.” Once a purchase agreement is reached, the NBA will “set a date for its Board of Governors to vote on the sale.” If the sale is “approved by the scheduled closing date of March 31, the new owners will take over with six games remaining in the 2025-2026 season.” The estate expressed a “desire for the team to stay in Oregon.” The source said that the team “will remain in Portland.” However, Quick notes the future of the Moda Center “is unclear.” The team has “signed a lease to continue playing its games in the arena through 2030, but NBA Commissioner Adam Silver has stated a new arena will likely need to be built.” The source said that while there are “issues with the Moda Center — ranging from its small visitor’s locker room and the quality of the suites — ‘nothing about the arena is a deal breaker on its own’” (THE ATHLETIC, 8/19).
