dailyloe.com – The NBA Board of Governors approved the sale of the Portland Trail Blazers on Monday. A group led by Dallas businessman Tom Dundon is acquiring the franchise. The transaction values the team at approximately $4.25 billion.
This sale ends a 36-year ownership era for the franchise. The team has been owned by Paul Allen or his sister Jody since 1988. The deal marks a significant shift for the Pacific Northwest club.
The purchase is structured as a two-part transaction. An initial 80.1% stake is being bought at a $4 billion valuation. This first phase is set to close on March 31, 2026.
The remaining 19.9% stake carries a higher valuation of $4.5 billion. Its acquisition must close no later than September 1, 2028. This creates a unique, staggered financial arrangement.
During the interim period, current chairman Bert Kolde will observe board meetings. However, he will have no operational involvement or governance power. This detail was confirmed by a source familiar with the deal.
The sale represents one of the largest franchise transactions in NBA history. It underscores the continued financial growth of professional basketball. New ownership often brings fresh strategic direction for teams.[]
Source: The New York Times
