The NBA Board of Governors has officially approved the sale of the Portland Trail Blazers to Texas businessman Tom Dundon. The deal, long agreed to between Dundon and former owners—the Paul G Allen Trust—has now cleared its last hurdle. Jason Quick of the Athletic reported the news.
The last time the Blazers changed hands was 1988, when Seattle tech wizard Paul Allen purchased it from original majority owner Larry Weinberg.
Quick offered details of the transition:
The transaction, valued at approximately
$4.25 billion, will mark the first time since 1988 that the Blazers have not been owned by Paul Allen or his sister, Jody. The sale will be a two-part deal: 80.1 percent is being bought at a $4 billion valuation and will close March 31. The additional 19.9 percent is being bought at a $4.5 billion valuation and will close no later than Sept. 1, 2028. During the interim period between March 31, 2026, and the second closing, Bert Kolde, chairman of the Blazers under Allen, will observe board meetings but will have no involvement or governance, according to a source with knowledge of the transaction.
