Trail Blazers sale worth $4.25 billion has officially reached an agreement, acquisition is expected to be completed by the end of the year

September 13: Paul Allen's estate management committee announced on Saturday that it had reached a formal agreement on the sale of the Trail Blazers to an investor team led by NHL Carolina Hurricanes owner Tom Dunton, with specific terms not yet disclosed.

Any final team acquisition agreement must be approved by the NBA board of directors, and the Trail Blazers sale is expected to be completed by the end of this year.

According to the Oregonian, the Oregonian first reported last month, a source close to the deal revealed that the Trail Blazers’ valuation was $4.25 billion.

Dunton leads the teams Sheel Tyle, co-founder of Portland-based investment company Collective Global, Marc Zahr, co-president of BlueOwl Capital, and family finance office and investment company CherngFamilyTrust, co-founder of Panda Fast Food.

Dunton, 54, acquired shares of the Hurricanes in 2017 and became the team's major shareholder the following year.

Paul Allen acquired the Portland Trail Blazers in 1988 for $70 million. After Paul Allen's death, his sister Jody Allen became Paul's executor and asset principal. According to the will, all of Paul's assets would be liquidated, at the time of the valuation of about $20 billion, with the vast majority of them going to charity. It is understood that in 2022, a team had bid 2 billion to acquire the Trail Blazers, but at that time, Jody Allen did not agree. After the Trail Blazers sold, Paul's legacy remains the NFL Seattle Seahawks (the current valuation of the Seahawks is at least $6-7 billion) and the MLS Seattle Bayer (small shareholder) have not yet been fulfilled. Additionally, Paul Allen's estate management committee has not announced plans to sell Seahawks or its 25% stake in the Gulf Man.