Inside the Potential Sale of the Portland Trail Blazers: What We Know So Far
A week after news emerged of a tentative deal to sell the Portland Trail Blazers, fans are still left waiting for clarity. And it looks like patience will remain key.
The prospective buyers aren’t speaking publicly. Leading the group is Texas business executive Tom Dundon, owner of the NHL’s Carolina Hurricanes. Other investors include Marc Zahr, co-president of Blue Owl Capital, and Sheel Tyle, Portland-based CEO of Collective Global Management. All have declined to comment due to NBA restrictions.
The seller is the estate of Microsoft co-founder Paul Allen, who passed away in 2018. His sister, Jody Allen, the estate’s public face, has remained largely silent. Sources indicate the agreed-upon purchase price is $4.25 billion, though the exact financing plan remains under wraps.
Do the Buyers Have the Funds?
According to sources familiar with the deal, cash isn’t an issue. If money alone were the obstacle, the sale could theoretically close tomorrow. Under NBA rules, a controlling owner must hold at least 15% of the team — roughly $640 million for Dundon. With a net worth estimated at $2 billion, much of it tied to his Hurricanes ownership, Dundon appears well-positioned financially.
Dundon’s sports background adds credibility to his bid. Sources describe him as “a great operator” who has “built a winner.” While his ownership of the Alliance of American Football ended in a messy bankruptcy, the Hurricanes have thrived both on the ice and at the box office under his leadership.
The Role of Private Equity and Local Investors
Reports have suggested that Arizona car magnates Ernest Garcia II and III might fund the deal, though sources have disputed their involvement. Private equity could also participate, with NBA rules capping institutional investor stakes at 30% and individual firms at 20%. Zahr’s Blue Owl Capital is eligible to invest, though he is participating as an individual.
Local investors were also approached, not primarily to fund the purchase, but to support potential arena renovations or a new facility. Columbia Sportswear CEO Tim Boyle confirmed he was invited to purchase a “tiny speck” of the team to help keep it in Portland. The NBA allows up to 25 individual investors, each contributing at least 0.5% of the team.
Timeline and Approval Process
Dundon’s group currently holds an exclusivity agreement with the Allen estate, aiming to finalize a formal purchase by September. Once signed, the deal must pass NBA due diligence, including background checks and financial scrutiny, before a committee of owners reviews it. A 75% vote of NBA owners is required for approval. If all goes smoothly, the group hopes to close by March 31, 2026.
Could the Deal Fall Apart?
Though tentative, both sides are motivated to see it through. Experts suggest any delays are more likely to slow the process rather than derail it completely. Comparisons to the Minnesota Timberwolves sale, which took over four years to finalize, highlight that patience and careful vetting are part of the process for high-value sports franchises.
For Portland fans, the wait continues — but the pieces seem aligned for a new chapter in Blazers history.
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