When news broke that Dallas financier Tom Dundon was making a bid to buy the Portland Trail Blazers, one of the open questions was whether he, alone, would be making offers or whether other bids would be entertained. This was complicated by the nature of the sale. Sold as part of former owner Paul Allen’s estate–as opposed to privately–fiduciary responsibility had the potential to come into play. In some cases, estates are mandated to be sold to the highest bidder, over and above other considerations.
According to Jason Quick of The Athletic [subscription required] that question appears to be answered. Quick has reported that Dundon is the exclusive buyer and referenced a target date in March, 2026, to get the final deal done.
Dundon, the owner of the NHL’s Carolina Hurricanes, has reached an exclusivity agreement with Paul Allen’s estate, which means there will be no negotiations with other interested buyers. Dundon’s group is in the process of negotiating documents, but the source close to Dundon says all major points have been agreed upon. The hope is to have a purchase agreement signed in September. A target date of March 31, 2026, has been set for the close of the deal.
Quick names the purchase price for the franchise as $4.25 billion. He further states that Dundon intends to keep the Blazers in Portland, as was the preference of the Allen Estate.
Quick’s article also contains some semi-predictable hype about Portland’s prospective new owner and his commitment to winning, sure to warm the hearts of Blazers fans.
