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Carolina Hurricanes Owner Makes Multi-Billion Dollar Team Purchase in Rival Sport

Originally posted on House of Hockey | By Tom Banks | Last updated Aug 13, 2025 2:33 PM ET

Thomas Dundon has owned the Carolina Hurricanes since 2017, and now the billionaire has also officially purchased the NBA's Portland Trail Blazers.

In late 2017, Thomas Dundon was part of a group that purchased the Carolina Hurricanes, and by the 2021 season, he was the sole owner of the team after purchasing all minority stakes in the team.

Since that point, the team have grown and become a consistent contender in the National Hockey League, and now, the 53-year old is branching out in the sports world once again.

Hurricanes owner becomes the Portland Trail Blazers owner

In a revelation from premiere NBA Insider Shams Charania, Dundon's purchase of the Portland Trail Blazers became all but official, with the billionaire purchasing the team for a valuation of over $4 billion.

While business in the NHL is good, it's booming in the NBA, with teams consistently valued at over $8 billion, with the Warriors reportedly the most valuable at over $9 billion, and while the Trail Blazers are on the lower end, it's still going to cost Dundon over $4 billion to secure the purchase.

It's unclear exactly how long conversations between Dundon and the former Blazers owners have been going on, but it's not often we see teams being sold, so there must have been plenty of negotiations before this became official.

Now, Dundon is one of several owners in the NHL that own several franchises, with FSG owning the Penguins and the Boston Red Sox, while Kroenke Sports own the Colorado Avalanche and the LA Rams among others, so now we will see if he can bring the consistency and success from Carolina to the hardwood in Portland as well.

This article first appeared on House of Hockey and was syndicated with permission.

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