NBA approves $4.25B sale of Trail Blazers to group led by Carolina Hurricanes owner Tom Dundon
The NBA has approved the $4.25 billion sale of the Portland Trail Blazers to a group led by Carolina Hurricanes owner Tom Dundon. The sale is expected to close this week, with Dundon serving as the team's governor and the proceeds from the sale going towards philanthropic ventures.
The NBA approved the sale of the Portland Trail Blazers to a group led by Tom Dundon. The sale is valued at $4.25 billion and is expected to close this week. Dundon will serve as the team's governor. The team was previously owned by the estate of late owner Paul Allen, who purchased the team for $70 million in 1988. Allen's estate has been managing the team since his death in 2018. The sale proceeds will go towards philanthropic efforts, as dictated by Allen's will.
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