Blazers sold in record deal

The Portland Trail Blazers have officially entered a new chapter after the NBA approved the team’s $4.25 billion sale to a group led by entrepreneur Tom Dundon. The transaction, expected to close this week, marks a dramatic leap in valuation for a franchise purchased in 1988 by Microsoft co‑founder Paul Allen for just $70 million. Following Allen’s death in 2018, stewardship passed to a trust overseen by his sister Jody, with all proceeds from the sale now earmarked for philanthropic initiatives in accordance with his will.

Dundon, 54, built his fortune in auto‑loan financing before launching Dundon Capital Partners. His sports résumé fuels optimism in Portland: since acquiring the NHL’s Carolina Hurricanes in 2018, the team has reached the playoffs every season from 2019 to 2025 and made three conference‑final appearances. Blazers fans hope his track record of rapid cultural transformation can revive a franchise eager to return to the NBA’s elite.