Portland: The Portland Trail Blazers have officially entered a new chapter after a deal to sell the NBA franchise to a group led by Tom Dundon, owner of the Carolina Hurricanes, was completed.
The team had been controlled by the estate of billionaire Paul Allen since his death in 2018. Last May, the franchise was placed on the market, with proceeds earmarked for Allen’s charitable initiatives. Financial details were not disclosed, though the transaction is believed to be worth approximately $4.25 billion (£3.21bn).
Under the agreement, the franchise will remain in Portland, with Dundon assuming the role of team governor. “Today is the beginning of a new chapter for the Portland Trail Blazers as we build on the legacy of this storied franchise,” Dundon said.
“Our commitment to this tremendous fan base is to be relentless in building a team that can compete at the highest level every season.” 💬
Allen — who co-founded Microsoft alongside Bill Gates — purchased the Blazers from franchise co-founder Larry Weinberg for $70 million in 1988. He also owned the Seattle Seahawks during his lifetime.
On the court, the Blazers — whose lone NBA title came in 1977 — have endured a turbulent season. Head coach Chauncey Billups has been suspended indefinitely following charges linked to an FBI investigation into illegal sports betting and alleged mafia-connected poker games.
Despite the upheaval, interim coach Tiago Splitter has steadied the squad, guiding Portland toward a likely berth in the postseason play-in tournament, which begins on April 14.
With new ownership in place and the postseason approaching, optimism is growing that the franchise could soon turn a difficult season into the foundation for a fresh and competitive era in Portland.
Source: BBC
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