Overview

• Tom Dundon confirmed his ownership group has reached a tentative agreement to buy the Portland Trail Blazers from Paul Allen’s estate.
• Media outlets report the purchase price is set at approximately $4 billion, reflecting soaring NBA franchise valuations this year.
• The investor group comprises Blue Owl Capital co-president Marc Zahr and Collective Global co-CEO Sheel Tyle and intends to keep the team in Portland.
• Allen & Company is facilitating the sale on behalf of the Allen estate with legal counsel provided by Hogan Lovells.
• The transaction now awaits ratification by the NBA Board of Governors before any closing can occur.