Tom Dundon, proprietor of the Carolina Hurricanes, speaks to media earlier than an NHL sport in opposition to the New York Rangers at PNC Arena in Raleigh, North Carolina, on Feb. 19, 2019.
Karl Deblaker | National Hockey League | Getty Images
Carolina Hurricanes proprietor Tom Dundon has reached a tentative settlement to buy the Portland Trail Blazers from Paul Allen’s estate, Dundon advised CNBC.
Dundon declined to present the phrases of the proposed sale however stated he’s “very excited.” CNBC’s latest Official NBA Team Valuations listed the Trail Blazers at a price of $3.65 billion.
The 53-year-old businessman is chairman of Dundon Capital Partners based mostly in Dallas, Texas.
He’s additionally a passionate sports activities proprietor. He agreed to buy a controlling stake in the NHL’s Carolina Hurricanes in 2017, and he is the majority proprietor of the Pro Pickleball Association and Major League Pickleball.
If his buy of the Trail Blazers is permitted, Dundon and his possession crew would take over possession from the estate of the late Microsoft co-founder. Allen’s sister Jody Allen has been managing the crew since his loss of life in 2018.
In 2022, Nike co-founder Phil Knight reportedly provided greater than $2 billion for the crew, however Allen declined.
The NBA declined to remark. The Trail Blazers didn’t instantly reply to CNBC’s request for remark. Sportico first reported news of the sale.
— CNBC’s Michael Ozanian contributed to this report.