Tom Dundon’s Acquisition of the Portland Trail Blazers
Tom Dundon, owner of the NHL’s Carolina Hurricanes, has reportedly finalized a deal to acquire the Portland Trail Blazers, according to a report by Eben Novy-Williams from Sportico. The deal, valued at over $4 billion, represents a significant shift for the franchise that was previously owned by the late Paul Allen, co-founder of Microsoft.
Legacy of Paul Allen
Paul Allen originally acquired the Trail Blazers in 1988 for $70 million. After his battle with non-Hodgkin lymphoma, which he was diagnosed with in 2009, Allen passed away in 2018. Since then, the management of the team has been overseen by his estate, led by his sister Jody Allen.
In accordance with his last wishes, outlined in a statement from the team earlier this year, the estate was tasked with selling Allen’s sports assets following his death, with the intention of channeling the proceeds into philanthropic initiatives.
Future of Other Teams
While the Trail Blazers will change hands, the estate plans to retain ownership of the Seattle Seahawks and Seattle Sounders for the time being, as both teams were either fully or partially owned by Allen before his passing.
Significance of the Acquisition
This acquisition marks a notable moment in NBA history and highlights the ongoing legacy of Paul Allen’s contributions to sports and philanthropy. Further updates regarding the transaction are expected to be released soon.
