The Portland Trail Blazers have a new owner.
Thomas Dundon, an American businessman with ties to multiple professional sports, including ownership of the Carolina Hurricanes and involvement in pickleball, has officially taken control of the franchise. Dundon had already been connected to the team since last year, but the NBA has now confirmed the sale.
What to Know About the Trail Blazers’ Sale to Thomas Dundon
The NBA announced on Monday that the Trail Blazers were sold to Dundon for $4.1 billion, with the following statement:
“The NBA Board of Governors has approved the sale of the controlling interest in the Portland Trail Blazers to an investor group led by Tom Dundon, who will serve as the Trail Blazers’ Governor. The transaction is expected to close this week.”
The following has been released by the NBA. pic.twitter.com/Nbi4CT7PLn
— NBA Communications (@NBAPR) March 30, 2026
According to The Athletic’s Jason Quick, the sale is structured as a two-part deal: 80.1% will be purchased at a $4 billion valuation, with that portion set to close on Tuesday. The remaining 19.9% will be acquired at a $4.5 billion valuation, scheduled to close no later than Sept. 1, 2028.
Even though the Trail Blazers have been around since 1970, this marks only the second time the team has been sold. The first came in 1988, when Microsoft co-founder Paul Allen purchased the franchise for $70 million.
The Trail Blazers went on two NBA Finals runs immediately after Allen’s purchase. While they haven’t returned since 1992, the team’s value has skyrocketed over the nearly four decades between Allen’s acquisition and Dundon’s purchase.
Following Allen’s death last year, his sister, Jody Allen, agreed to sell the team to Dundon. The timing is notable, as the Trail Blazers are aiming for a playoff run next season despite the ongoing investigation into head coach Chauncey Billups.
Fans are also excited about the potential return of nine-time All-Star guard Damian Lillard, the franchise’s most iconic player since Clyde Drexler. Lillard, traded to the Milwaukee Bucks in 2023, was re-signed by Portland in 2025 after the Bucks waived and stretched his contract. He won this year’s All-Star 3-point contest.
He is recovering from an Achilles tear and will be 36 when he resumes play, but optimism remains high given how players like Dejounte Murray and Jayson Tatum have bounced back from similar injuries.
Dundon made a smart investment: acquiring a storied franchise with a loyal fanbase, a potential playoff push, and the return of one of the greatest scorers of his era.
