The Portland Trail Blazers have officially changed ownership, marking a significant shift for the franchise. The sale, which has been confirmed by sources including Shams Charania from ESPN, is valued at over $4 billion. New owner Tom Dundon pledges to keep the team in Oregon, honoring the legacy of former owner Paul Allen.
Trail Blazers Transition to New Ownership
The Portland Trail Blazers are no longer under the ownership of the Allen family, with the sale officially announced by insider Shams Charania. The transaction exceeds $4 billion, positioning it among the largest sports franchise sales in history, comparable to the sale of the Phoenix Suns in 2023.
Tom Dundon, who also owns the NHL’s Carolina Hurricanes, has acquired the team from the estate of Paul Allen, who passed away in 2018. Jody Allen, Paul’s sister, had been managing the franchise since his death and facilitated the sale as part of Paul Allen’s wish to donate proceeds from the sale to charitable organizations.
Future of the Team in Oregon
Dundon has assured fans that the Blazers will remain in Oregon, reflecting one of Paul Allen’s key desires for the franchise. Recently, the management group overseeing the Allen family’s assets sold the Blazers’ arena to the city of Portland for renovations. This step indicates a commitment to maintaining the team’s local heritage while improving its facilities.
Source: ESPN
Meet William, a proud Bethel University alumnus with a fervent passion for lifestyle and culture topics. His keen interest doesn’t stop there; he’s also deeply engrossed in current events of all kinds. William dedicates himself wholeheartedly to this site, thriving on the collaborative energy he shares with Suzanne, his long-standing partner in crime.
Having navigated their university courses side by side for years, their teamwork on the site is nothing short of dynamic. Together, they bring a unique blend of insights, proving that two heads are indeed better than one in delivering compelling content.
