Hurricanes owner to buy NBA's Trail Blazers, reports say

Tom Dundon, the owner of the Carolina Hurricanes, has reached an agreement to purchase the NBA’s Portland Trail Blazers, according to multiple reports.

Sportico first reported the deal. The Blazers are owned by Paul Allen’s estate and the plan is to keep the team in Portland, according to reports. 

“We are excited,” Dundon said in an email to Yahoo! Sports.

Dundon bought the Hurricanes in 2019 for $425 million. The NHL team has reached the playoffs each season since and appears poised for a long run of success with its core locked into long-term deals and salary cap room.

Dundon plans for a $1B redevelopment around Raleigh’s Lenovo Center over the next decade with the first phase set to begin in December.

Dundon said he wants to bring Major League Baseball to North Carolina.

Allen, a Microsoft co-founder, died in 2018 with intentions that his sports teams — the Blazers and the NFL’s Seattle Seahawks — be sold.

Sportico reported that Dundon’s group includes Blue Owl Capital co-president Marc Zahr and Portland-based Sheel Tyle, co-CEO of Collective Global. ESPN’s Shams Charania reported the Blazers sale is for a valuation of $4 billion.

Sportico valued the Hurricanes at $1.29 billion and the Blazers at $3.6 billion.