TITLE: Trail Blazers to Be Sold for $4.25 Billion in Two-Step Deal
SLUG: trail-blazers-sale-425-billion-two-payments
CONTENT:
The Portland Trail Blazers are set to change hands for about $4.25 billion in a transaction that will be split into two separate payments, according to Sportico reporters Scott Soshnick and Eben Novy-Williams.
People familiar with the agreement told Sportico that one installment will be made at closing, with a second payment due later. The combined figure places the blended valuation above $4 billion, matching an earlier indication from ESPN’s Shams Charania that the final number would top that threshold.
The purchasing group is led by Carolina Hurricanes owner Tom Dundon and includes Marc Zahr, co-president of Blue Owl Capital, and Sheel Tyle, co-CEO of Collective Global. The consortium intends to keep the NBA franchise in Portland.
The Trail Blazers went on the market in May. Microsoft co-founder Paul Allen bought the club for $70 million in 1988 and remained owner until his death in 2018. Control then passed to his sister, Jody Allen, who serves as trustee and executor of his estate.
Source: Hoops Wire
