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NBA approves $4.25B sale of Trail Blazers to group led by Carolina Hurricanes owner Tom Dundon
The NBA announced on Monday that it’s approved the sale of the Portland Trail Blazers to a group led by Carolina Hurricanes owner Tom Dundon.
Per the league, the sale is expected to close this week. Dundon will serve as the team’s governor.
Link to tweet
Dundon reached an agreement to purchase the team from the estate of late owner Paul Allen in August. Per multiple reports, the team is being sold at a $4.25 billion valuation.
Allen, who co-founded Microsoft, previously owned the Trail Blazers from 1988 until his death in 2018. He purchased the team for $70 million in 1988. The team has since been run by his his estate, which is managed by his sister, Jody Allen.
https://sports.yahoo.com/nba/breaking-news/article/nba-approves-425b-sale-of-trail-blazers-to-group-led-by-carolina-hurricanes-owner-tom-dundon-205939949.html