Hurricanes Owner To Buy NBA's Trail Blazers

Dundon, 53, is the head of a group that includes Blue Owl Capital co-president Marc Zahr (Blue Owl Capital co-CEO Doug Ostrover is the incoming majority owner of the Tampa Bay Lightning) and Collective Global co-CEO Sheel Tyle, according to Sportico. The group intends to keep the team in Portland long-term.

Allen, who co-founded Microsoft alongside Bill Gates, purchased the Trail Blazers for $70 million in 1988. After he passed away in 2018, his will dictated that his sports teams - he also owned the NFL's Seattle Seahawks and a large minority stake in MLS' Seattle Sounders - be sold and the proceeds be directed to philanthropic causes. His younger sister Jody Allen is the executor of his estate and is currently managing both the Trail Blazers and Seahawks. The Trail Blazers are now the first of his teams to be sold.

Dundon previously bought the Hurricanes for $425 million in 2018, and became the sole owner of the team in 2021 after purchasing all minority stakes. He is also the majority owner of the PPA Tour and Major League Pickleball.

Once the purchase is complete, which will require NBA approval, Dundon will reportedly serve as the Trail Blazers' governor as well.

Under Dundon, the Hurricanes have consistently been one of the better teams in the Eastern Confernce. They've made the playoffs in seven-straight seasons, the fourth-longest streak in the league behind the Toronto Maple Leafs (nine seasons), Colorado Avalanche and the Lightning (eight seasons each). This streak comes after a 10-year playoff drought, so their turnaround has been quite impressive.

The Hurricanes have also made the Eastern Conference Final three times in that span, but with just one win in said appearances, success in the third round has been elusive. They lost to the Florida Panthers, the eventual Stanley Cup champions, in five games this season.

However, whether the Hurricanes' success is because of Dundon or in spite of him is up for debate. Rod Brind'Amour is widely seen as one of the the best coaches in the league in part because he accomplishes more with less, as the Hurricanes have been oddly reluctant to spend to the salary cap despite contending year in and year out. Dundon has also been more involved in team operations than some would like.

One thing's for sure, though, with the Trail Blazers soon to be under his belt, Dundon will certainly be a busy man in the years to come.