Trail Blazers sale to Tom Dundon unanimously approved

The Portland Trail Blazers are going to be under new ownership. An investor group led by Dallas billionaire Tom Dundon is taking over the team, the NBA announced Monday.

“The transaction is expected to close this week,” the NBA said in a news release.

The NBA Board of Governors approved the deal. The Trail Blazers will have Dundon serving as their governor, the league announced.

This deal will bring about a big change in the course of the franchise.

“The transaction, valued at approximately $4.25 billion, will mark the first time since 1988 that the Blazers have not been owned by Paul Allen or his sister, Jody,” The Athletic reported.

The new owners will oversee the team as it looks to renovate its arena.

“In Portland, the Blazers are seeking $600 million in funding to renovate the Moda Center, a city-owned building that has had minimal upgrades since it opened 31 years ago. In March, the Oregon Legislature pledged $365 million toward arena renovation,” The Athletic continued.

Portland holds a 38-38 record during the 2025-26 season. The Trail Blazers are currently ninth in the Western Conference standings. The club has won seven of their last 10 games.

The team is led this season by Deni Avdija. Avdija is averaging close to 24 points per game, while grabbing close to seven rebounds a contest.

The Trail Blazers have won just one NBA championship in franchise history. That title came in 1977. Portland has also made the NBA Finals in 1990 and 1992.

Portland is coming off a win Sunday over the Washington Wizards. The Blazers next play the Los Angeles Clippers on Tuesday night.