Trail Blazers Purchase Agreement Signed by Tom Dundon, Moving Franchise Sale Forward
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The sale of the Portland Trail Blazers took a significant step forward after billionaire Tom Dundon signed a purchase agreement to acquire the NBA franchise, according to reports from The Oregonian and Sportico.
The transaction still requires formal approval from the NBA’s Board of Governors, but league consent is expected before the conclusion of the 2025-26 season. An earlier timeline listed March 31 as a possible closing date.
Dundon’s investment group features Blue Owl Capital co-president Marc Zahr, Collective Global co-CEO Sheel Tyle, and the Cherng Family Trust, which is linked to Panda Express founders Andrew and Peggy Cherng. The consortium plans to issue two separate payments that together value the franchise at approximately $4.25 billion.
The winning bid outpaced an offer from RAJ Sports and the Bhathal family, owners of the National Women’s Soccer League’s Portland Thorns and the incoming WNBA team Portland Fire.
The Trail Blazers have been on the market since May under the late Paul Allen’s estate plan, with sale proceeds designated for philanthropic initiatives. Dundon, already the majority owner of the NHL’s Carolina Hurricanes, is now positioned to add an NBA club to his sports portfolio.
Source: Hoops Wire
