The Trail Blazers are now facing an unexpected new operator. What impact will this new leader’s style have on the team? At the beginning of the offseason, Blazers owner Jody Allen, in conjunction with the Paul Allen Foundation, announced that they would be seeking a new buyer. Initially, it was thought that this process would take a while, but recently ESPN reported that the Blazers have already found a new buyer. Led by Tom Dundon, the purchasing group has offered over $4 billion. While this price still falls short compared to renowned teams like the Lakers and the Celtics, it significantly exceeds Forbes’ previous estimate of $3.5 billion.
According to recent reports, the Portland Trail Blazers hold a price tag in North America’s four major professional sports that markedly exceeds other teams, standing only behind the biggest franchises in the NFL market. In fact, the overall sale prices of NBA teams continue to hit new highs, gradually establishing the league as one of the most valuable among the four major professional sports.
It’s worth noting that the ownership of the Trail Blazers was acquired in 1988 for 70 million dollars from Larry Weinberg. At that time, the owner Paul Allen was one of the league’s most proactive team operators, and his investment propelled the Trail Blazers into the playoffs for 21 consecutive years, showcasing their strong capabilities.
Unfortunately, in 2018, Paul Allen passed away unexpectedly. According to his will, the management of the team was entrusted to the foundation, with CEO Jody Allen at the helm. However, Jody’s passion for professional sports isn’t particularly strong, as the will explicitly stated plans to publicly sell the team when the time is right. As the contract between the Trail Blazers and the city of Portland expired, Jody Allen first extended it until 2030, and then symbolically transferred the management rights of the Moda Center to the city for just $1, ensuring the arena’s operations while preparing for the sale.
Despite facing some tough times in recent years, especially with their failure to make the playoffs in the 2025 season, the Trail Blazers unexpectedly announced they were up for sale. Rumors had previously suggested that Nike founder Phil Knight was one of the most eager potential buyers, but after the official sale announcement, he stated that due to his older age, he felt unfit to manage a team and chose not to participate in the bidding. While Portland fans were left in anticipation, Texas’s Tom Dundon suddenly announced that he had successfully acquired the team.
So, who exactly is Tom Dundon? He made his mark in Texas’s finance scene and, as the head of Dundon Capital, has recently plunged into the world of professional sports. Since acquiring the NHL’s Carolina Hurricanes in 2017, he has gradually increased his stake to become the team’s independent operator. Beyond this, he previously invested in the American Football Alliance (AAF) and in 2021, snapped up the rising pickleball retail site, Pickleball Central. Now, the Portland Trail Blazers will also become a part of his expanding sports empire.
