PORTLAND, Oregon \u2013 Paul Allen’s estate has reached a formal agreement to sell the Portland Trail Blazers to an investor group led by Tom Dundon, owner of the Carolina Hurricanes.<\/p>\n
Dundon announced a tentative agreement last month to acquire the team and keep it in Portland. Allen’s estate announced on Friday that it had “entered into a formal sale agreement” with the group. The terms of the agreement were not disclosed.<\/p>\n
The Dundon group includes Sheel Tyle, based in Portland and co-founder of the investment firm Collective Global; Marc Zahr, co-chairman of Blue Owl Capital; and the Cherng Family Trust, the family office and investment firm of the co-founders of Panda Express.<\/p>\n
The NBA Board of Governors must ratify any final purchase agreement. It was reported that the deal is for $4 billion.<\/p>\n
The sale of the Blazers is expected to close by the end of this year.<\/p>\n
Dundon, 53, bought a stake in the Hurricanes in 2017 and became the majority owner in 2018. He is chairman and managing partner of the Dallas-based firm Dundon Capital Partners.<\/p>\n
Allen’s estate announced in May that it had begun the process of selling the Trail Blazers. The billionaire co-founder of Microsoft, who died in 2018 at age 65 from complications of non-Hodgkin’s lymphoma, originally bought the Blazers in 1988 for $70 million.<\/p>\n
Allen also owned the NFL’s Seattle Seahawks and co-owned the Major League Soccer’s Seattle Sounders.<\/p>\n
Since his death, Allen’s sister, Jody Allen, has been chair of both the Blazers and the Seahawks and is a trustee of the Paul G. Allen Trust. Paul Allen stipulated in his will the eventual sale of his teams, with the proceeds going to philanthropic initiatives.<\/p>\n
The estate has not announced plans for the sale of the Seahawks or the 25% stake in the Sounders.<\/p>\n","protected":false},"excerpt":{"rendered":"
PORTLAND, Oregon \u2013 Paul Allen’s estate has reached a formal agreement to sell the Portland Trail Blazers to an investor group led by Tom Dundon, owner of the Carolina Hurricanes. Dundon announced a tentative agreement last month to acquire the team and keep it in Portland. Allen’s estate announced on Friday that it had “entered […]<\/p>\n","protected":false},"author":1,"featured_media":33791,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[37],"tags":[103,2064,7211,2195],"class_list":{"0":"post-33790","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-nba","8":"tag-nba","9":"tag-sale","10":"tag-tom-dundon","11":"tag-trail-blazers"},"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/alofokedeportes.com\/en\/wp-json\/wp\/v2\/posts\/33790","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/alofokedeportes.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/alofokedeportes.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/alofokedeportes.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/alofokedeportes.com\/en\/wp-json\/wp\/v2\/comments?post=33790"}],"version-history":[{"count":0,"href":"https:\/\/alofokedeportes.com\/en\/wp-json\/wp\/v2\/posts\/33790\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/alofokedeportes.com\/en\/wp-json\/wp\/v2\/media\/33791"}],"wp:attachment":[{"href":"https:\/\/alofokedeportes.com\/en\/wp-json\/wp\/v2\/media?parent=33790"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/alofokedeportes.com\/en\/wp-json\/wp\/v2\/categories?post=33790"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/alofokedeportes.com\/en\/wp-json\/wp\/v2\/tags?post=33790"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}