Allen Estate to Retain Minority Stake in Blazers

The Paul G. Allen Estate will retain a 20 percent share in the Blazers under the terms outlined in the proposed sale to Tom Dundon’s group. John Canzano reported on details of the agreement today.

If the

sale is approved by the league, Dundon becomes the “majority governor” despite owning a slightly smaller percentage of the team. He’ll represent the Portland franchise at league Board of Governors meetings.

The Allen family has governed the Trail Blazers since 1988. When Paul Allen died in 2018, his will stipulated that the component parts of his estate, including the team be sold. So, don’t expect the Allen Estate to remain in the Blazers business for long.

Front Office Sports reports the sale of the Blazers will unfold in multiple stages:

The deal is expected to close in March 2026 and Dundon will become the team’s majority owner when it does. A second transaction will take place at a later date for Dundon to buy the remaining stake in the team from the Allen estate. Jody Allen is currently the team’s governor; Dundon will replace her as governor after his first payment.

Similar ownership agreements are common in recent NBA team sales.

2025 Transactions: 

• The Lakers sold a majority stake to Dodger’s owner Mark Walter. The Buss family retained a minority share.
• The Celtics sold a majority share to Bill Chisholm’s governorship group while previous governor Wyc Grousbeck held onto 13% of the team.

2023 Transactions: 

• The Suns sold to Matt Ishbia. Former governor Robert Sarver did not retain any shares of the team after an NBA investigation concluded he had engaged in “workplace misconduct and organizational deficiencies.” 
• The Dallas Mavericks sold a majority share to the families of Miriam Adelson and Sivan and Patrick Dumont which the operate the Las Vegas Sands casino company. Mark Cuban retains 27% of the team.
• Marc Lasry sold a 25% share of the Milwaukee Bucks to Jimmy Haslam and the Haslam Sports Group. While Lasry did not keep a minority share, the Bucks have a unique arrangement in which no one person holds the majority of shares. The governorship of the team rotates every five years.