The NBA Board of Governors has been busy this week. Right after voting to expand the league to Seattle and Las Vegas, they’re now welcoming a new arrival. The board voted to sell the Portland Trail Blazers on Monday, March 30. According to an official league statement, an investor group led by Tom Dundon will soon take over. While the official price tag was not disclosed, reports claim the valuation is approximately $4.25 billion, a starkly different figure from the $7 to $10 billion entry fee for brand-new franchises.

The official statement read, “The NBA Board of Governors has approved the sale of the controlling interest in the Portland Trail Blazers to an investor group led by Tom Dundon, who will serve as the Trail Blazers’ Governor. The transaction is expected to close this week.”

Dundon, a billionaire, is from Dallas, the Mavericks’ town. Some of his co-owners have Oregon ties, including Sheel Tyle, whose wife, Dr. Sejal Hathi, is the director of the Oregon Health Authority. With the NBA Board of Governors’ approval, his ownership group will purchase the Blazers from Paul Allen’s estate.

Details of the sale, though, are still a little obscure. Reports state that the sale will be structured as a two-part deal. 80.1% is expected to be bought at a $4 billion valuation by March 31. The remaining 19.9% will be bought at a $4.5 billion valuation and will close no later than September 1, 2028.

The valuation highlights the rising franchise costs in the NBA after a new $70+ billion media rights deal. With expansion around the corner, Portland’s sale reflects a changing landscape within the NBA Board of Governors as much as on the court.

The NBA has approved the sale of the controlling interest. Bert Kolde, the incumbent vice chairman of the Blazers (as well as the Seattle Seahawks), will oversee board meetings but will have no involvement in administrative and governing responsibilities.

Tom Dundon could rescue the Trail Blazers

The Blazers have been under the ownership of Paul Allen and his sister, Jody, since 1988. Allen passed away from non-Hodgkin Lymphoma in 2018, and his sister managed the team. In May 2025, she put the team up for sale with the intention of donating all proceeds to charity.

Tom Dundon had reached a tentative agreement to purchase the team in August 2025. At that time, there was a fear that the Texas resident would relocate the team out of Rose City.

More upheaval came in October. The Blazers’ head coach, Chauncey Billups, was arrested in the FBI’s crackdown on illegal gambling within the NBA. During those uncertain times, however, Dundon’s group reassured the city that the Blazers would remain in Portland.

One of the first orders of business for the new owners would likely be renovating the Moda Center. The Oregon Legislature has already approved $365 million in state-issued bonds to improve the arena. Adam Silver also met with officials to discuss next steps, further confirming that the team will remain in its original home.

Besides, Dundon doesn’t have a habit of relocating his teams. He owns NHL team, the Carolina Hurricanes, since 2018. He’s also invested in Topgolf and pickleball teams. Dundon’s ownership style in the other teams has been diverting resources towards players. The Hurricanes have one of the highest payrolls under him. The result has led to multiple playoff appearances for the Hurricanes, turning a small franchise into a perennial Stanley Cup contender. He sold a minority stake in the Hurricanes for $2.66 billion earlier this month, leaving him a sizable fortune to invest in his new basketball venture.

At this time, with their star acquisition Damian Lillard sidelined, the Blazers need an aggressive negotiator and analytics-driven tactician like Dundon to breathe some life back into the franchise.