A closer look at Trail Blazers’ incoming ownership group

The Trail Blazers’ incoming ownership group will be led by Carolina Hurricanes owner Tom Dundon, whose agreement to purchase the franchise from Paul Allen’s estate carries a blended valuation of about $4.25 billion.

Dundon, 53, took control of the Hurricanes in 2018 and has expanded his sports portfolio to include the PPA Tour and Major League Pickleball, as well as an investment in Topgolf. He serves as chairman and managing partner of Dallas-based Dundon Capital Partners, which has holdings in healthcare, real estate and auto financing.

Joining him in the reported group are Blue Owl Capital co-president Marc Zahr and Collective Global Management co-CEO Sheel Tyle. Zahr’s firm holds minority stakes in the Suns, Kings, Timberwolves and Hawks, while Tyle, founder of Amplo, has recently made Portland his home after his wife became director of the Oregon Health Authority.

The Blazers announced plans to sell in May, with proceeds going to philanthropy per Paul Allen’s wishes. Allen bought the team in 1988 for $70 million, guiding the franchise to multiple NBA Finals appearances before his death in 2018. Control transferred to his sister, Jody Allen, who has overseen the team until now.