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The NBA board of governors greenlights the sale of the Portland Trail Blazers to a group led by Tom Dundon. The deal, valued at $4 billion, is set to finalize this week. Dundon’s consortium includes Sheel Tyle, Marc Zahr, and the Cherng Family Trust. This sale follows the Boston Celtics' record $6.1 billion sale in March. Earlier this month, Dundon sold part of the NHL's Carolina Hurricanes for $332.5 million. He became majority owner of the Hurricanes in 2018. The Trail Blazers’ sale comes after Oregon’s Legislature approved funds for the Moda Center renovation, ensuring the team remains in Portland. Paul Allen's estate started the sale process in May, following his passing in 2018. Allen purchased the Blazers in 1988 for $70 million and aimed to use sale proceeds for philanthropy. His sister, Jody Allen, currently chairs the Blazers and Seahawks.
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