NBA Approves Sale of Trail Blazers to Tom Dundon Group

The NBA Board of Governors approved the sale of the Portland Trail Blazers to a group led by Tom Dundon, the owner of the Carolina Hurricanes. The franchise was valued at $4.25 billion and the purchase was made from the Paul Allen Trust, with all proceeds going to charity as required by the trust.

Dundon takes over a team that has recently secured state approval for major upgrades to the Moda Center and is in a transition phase, featuring veterans like Jrue Holiday and Damian Lillard alongside younger stars such as Deni Avdija, Sharron Sharpe and Scoot Henderson.