The winds of change are blowing through the Rose City, and the Portland Trail Blazers are making big changes to their franchise. In a move that signals the end of a nearly four-decade chapter, the estate of the late Paul Allen has formally announced its intention to sell its majority stake in the Portland Trail Blazers. The city, the fans, and the league itself now hold their breath, watching as a new era prepares to dawn for one of the NBA’s most cherished franchises.
This isn’t just a business transaction; it’s the passing of a torch. It’s the closing of a book on a story that began in 1988, when a visionary Microsoft co-founder named Paul Allen saw something special in Portland and bought the team for a mere $70 million. For 30 years, Allen wasn’t just an owner; he was a fan, a presence, a part of the city’s fabric.
His passion was palpable, echoing from the rafters of the Moda Center, then known as the Rose Garden. He was there for the glory days of Clyde “The Glide” Drexler, Terry Porter, and the heartbreaking NBA Finals runs. He was there for the “Jail Blazers” era, and he was there to steer the ship back toward respectability with stars like Damian Lillard and Brandon Roy.
When Allen passed away in 2018, his will was clear: his vast holdings, including his beloved sports franchises, were to be sold. It was never a question of if, but when. And now, the “when” is here.
Who is Buying the Portland Trail Blazers?
Enter Tom Dundon. The name might not resonate with NBA die-hards just yet, but in the world of professional hockey, Dundon is a proven winner. As the majority owner of the NHL’s Carolina Hurricanes since 2018, the 53-year-old billionaire has overseen a remarkable turnaround. The ‘Canes have become perennial contenders, reaching the conference finals three times under his stewardship. He’s known for his aggressive, hands-on approach and a fierce desire to win—a quality that should have every Portland Trail Blazers fan buzzing with anticipation.
Dundon is leading an investment group poised to purchase the franchise for a staggering figure expected to eclipse $4 billion. It’s a number that speaks volumes about the value of an NBA team in today’s market, a testament to the league’s global appeal. But for the fans in Portland, it’s not about the money. It’s about commitment. It’s about the promise of a future that honors the team’s rich history while forging a new path to glory.
Apr 22, 2025; Indianapolis, Indiana, USA; Milwaukee Bucks guard Damian Lillard (0) dribbles the ball while Indiana Pacers guard Andrew Nembhard (2) defends during game two of first round for the 2024 NBA Playoffs at Gainbridge Fieldhouse. Mandatory Credit: Trevor Ruszkowski-Imagn ImagesA New Chapter for Rip City
The sale, anticipated to be finalized by the end of the 2025-26 season, leaves Rip City in a state of hopeful uncertainty. What does a new owner mean for the team’s identity? For the front office? For the roster? These are the questions that will dominate conversations in coffee shops and sports bars across Oregon for months to come.
For years, the Portland Trail Blazers have been defined by a fierce loyalty, a small-market grit that has allowed them to compete with the giants of Los Angeles and Boston. They are a franchise with a soul, deeply intertwined with the community that supports it. The hope is that Dundon and his group understand this. The hope is that they see the Blazers not just as an asset, but as a public trust.
This transition marks more than just a change in ownership. It represents a pivotal moment, a chance to reignite the fire that has defined this franchise for generations. It’s an opportunity to build a new legacy, to chase that elusive championship that has been just out of reach for so long. The ghost of Paul Allen’s passion will forever linger in the arena, a quiet reminder of the standard that was set. Now, it’s up to Tom Dundon to pick up that torch and carry it forward, lighting the way for the next great chapter in the history of the Portland Trail Blazers. The city is watching. The league is watching. A new game is about to begin.
