The Trail Blazers’ incoming ownership group will be led by Carolina Hurricanes owner Tom Dundon, whose agreement to purchase the franchise from Paul Allen’s estate carries a blended valuation of about $4.25 billion.
Dundon, 53, took control of the Hurricanes in 2018 and has expanded his sports portfolio to include the PPA Tour and Major League Pickleball, as well as an investment in Topgolf. He serves as chairman and managing partner of Dallas-based Dundon Capital Partners, which has holdings in healthcare, real estate and auto financing.
Joining him in the reported group are Blue Owl Capital co-president Marc Zahr and Collective Global Management co-CEO Sheel Tyle. Zahr’s firm holds minority stakes in the Suns, Kings, Timberwolves and Hawks, while Tyle, founder of Amplo, has recently made Portland his home after his wife became director of the Oregon Health Authority.
The Blazers announced plans to sell in May, with proceeds going to philanthropy per Paul Allen’s wishes. Allen bought the team in 1988 for $70 million, guiding the franchise to multiple NBA Finals appearances before his death in 2018. Control transferred to his sister, Jody Allen, who has overseen the team until now.
Looking for the latest NBA Insider News & Rumors?
Be sure to follow Hoops Wire on TWITTER and FACEBOOK for breaking NBA News and Rumors for all 30 teams!
This ownership group is owned by venture capitalists, the moda center is not getting public funding.
These guys are gonna buy the moda center from the city of Portland corporation? Unlikely.
They’ll move the team to Las Vegas first, not Seattle, but a larger market most definitely in this scenario. That is very likely.
Too similar to how Seattle was moved.
Nobody wants to pay for billionaires, bankers, and the city of Portland inc. to make money on their backs.
Most of the public can’t afford a Blazer game.
These guys will move the team, and the reason is the moda center remodeling nobody can afford, and wants to pay for.
BlackRock, and Vanguard are the largest share holders in blue owl capital.
Pieces of trash.