Franchise sale negotiations of the Blazers set for a closure worth $4.25 billion
Portland Trail Blazers Set to Change Hands for $4.25 Billion
The Portland Trail Blazers, a staple of the NBA's Western Conference, are set to undergo a significant change as a new ownership group prepares to take over the franchise. The sale, led by Tom Dundon, owner of the NHL's Carolina Hurricanes, Marc Zahr, and Sheel Tyle, is moving forward and is expected to be finalized by March 31, 2026, according to reports by Jason Quick of The Athletic.
The new ownership group will include majority owner Jody Allen and minority owners Chris Dudley and Paul Allen's estate representatives. The sale also includes the Trail Blazers' other holdings, such as the NFL's Seattle Seahawks.
Sheel Tyle, a co-CEO of Collective Global Management, has lived in the Portland area for the past two years, bringing valuable local insight to the table. Tyle, along with Dundon and Zahr, will aim to build upon the success that the Trail Blazers have already achieved.
The Trail Blazers have been undergoing a rebuild, reshaping their roster over the offseason. One of the notable additions is Damian Lillard, who was signed after his release from the Milwaukee Bucks as he recovers from an Achilles injury. Another significant move was the trade of Anfernee Simons to the Boston Celtics for veteran guard Jrue Holiday.
The sale of the Trail Blazers is in accordance with the will of the late Paul Allen, who passed away in 2018. Despite the sale, the franchise will not be relocated from Oregon, as the estate overseeing the sale has confirmed. The Moda Center, the Trail Blazers' home arena, is under contract with the team through 2030.
However, Commissioner Adam Silver has suggested that the franchise may eventually require a new facility due to the arena's shortcomings, such as cramped visitor locker rooms and aging suites. These issues, while noted, are not significant enough to block the sale at this time.
The Trail Blazers' 2025-26 season is set to begin at home against the Minnesota Timberwolves on Wednesday, Oct. 22. If the sale is finalized on March 31, 2026, the new ownership group will take control of the team with six games left in the regular season.
Under Dundon's leadership, the Carolina Hurricanes have made three trips to the Eastern Conference finals after missing the postseason nine consecutive years. If Dundon is successful in his purchase of the Trail Blazers, success on the court will be his primary focus, as reflected in his tenure with the Hurricanes.
The Trail Blazers' future under the new ownership group is promising, with a rebuild in progress and a focus on success on the court. The sale is expected to be finalized in the coming months, marking a new era for the Portland Trail Blazers.
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