The Portland Trail Blazers have a new controlling owner for the first time in nearly four decades.
Businessman Tom Dundon, best known for owning the Carolina Hurricanes of the NHL, now leads the ownership group that purchased the franchise from the estate of the late Paul Allen.
The NBA Board of Governors gave unanimous approval to the sale on March 30, 2026, and the first phase of the transaction closed the very next day.
The deal ends the Allen family’s long tenure atop the organization and brings a fresh ownership group into the Rose City.
Below, you will find the full quick facts, an ownership breakdown, a timeline of every owner the team has had, and answers to the questions fans are asking most about the new regime in 2026.
| Team | Portland Trail Blazers (NBA) |
| Current Owner | Tom Dundon (majority, controlling owner) |
| Ownership Group | Sheel Tyle, Marc Zahr, the Cherng family, Stanley Middleman and other partners |
| Previous Owner | Estate of Paul Allen (Jody Allen, trustee) |
| Sale Price | Approximately 4.25 billion dollars |
| Deal Closed | March 31, 2026 (first phase of an 80.1 percent stake) |
| Home Arena | Moda Center, Portland, Oregon |
| League | National Basketball Association |
Table of Contents
Who Owns The Portland Trail Blazers Today
Tom Dundon serves as the controlling owner of the Portland Trail Blazers.
He already owned a majority stake in the Carolina Hurricanes and has investments across sports and technology, including a stake in the Top Golf company.
Dundon did not buy the team alone.
He assembled a large group of limited partners to help fund and support the purchase, a common structure for modern sports transactions given how expensive franchises have become.
Notable members of the Dundon ownership group include Sheel Tyle, a Portland resident and chief executive of the Collective investment firm, Marc Zahr, co president of the Blue Owl investment firm, the Cherng family who founded the Panda Express restaurant chain, and Stanley Middleman, chief executive of Freedom Mortgage and a part owner of the Philadelphia Phillies.
Limited Partner
Limited Partner
Limited Partner
Limited Partner
Trail Blazers Ownership Timeline
The franchise has changed hands only a small number of times since it joined the NBA as an expansion team in 1970.
Below is a full timeline of the people who have controlled the club.
Harry Glickman leads an investor group, including Larry Weinberg and Herman Sarkowsky, that pays the NBA an expansion fee to found the club.
Larry Weinberg becomes the primary controlling owner and leads the club through its 1977 championship season.
Microsoft co founder Paul Allen purchases the team for roughly 70 million dollars, becoming the youngest owner in major American professional sports at the time.
Paul Allen passes away on October 15. His sister, Jody Allen, becomes trustee of his estate and chairman of the organization.
The estate signs a formal agreement to sell the team to Tom Dundon and his investor group for a reported value near 4.25 billion dollars.
The NBA Board of Governors approves the sale and the first closing takes place on March 31, transferring an 80.1 percent stake to Dundon’s group, with the remaining share to follow by 2028.
How Much Did Tom Dundon Pay For The Trail Blazers
Reporting places the total transaction value near 4.25 billion dollars, though the sale is structured in two stages rather than a single payment.
The first stage transfers 80.1 percent of the franchise at a valuation of about 4 billion dollars.
The remaining 19.9 percent will transfer later, no later than 2028, at a higher valuation of roughly 4.5 billion dollars.
That staggered structure lets Dundon secure control quickly while giving the Allen estate additional time and an upside if the franchise continues to gain value.
For context, CNBC valued the club at roughly 3.65 billion dollars in its February 2025 rankings, well below the eventual purchase price.
That gap shows just how quickly NBA franchise values have climbed thanks to the league’s new national media rights deals and continued demand from wealthy buyers hoping to own a major sports asset.
Why Did The Allen Estate Sell The Team
Paul Allen never explicitly stated that the Trail Blazers should be sold after his death, unlike his clearer instructions for the Seattle Seahawks.
That ambiguity left Jody Allen managing the club for years as trustee.
Eventually the estate determined that a sale was the best path forward, both to resolve long term estate planning questions and to bring in ownership with the resources to keep investing in the roster and the arena.
Is Tom Dundon A Good Owner
Opinions among fans are mixed, which is typical whenever a beloved franchise changes hands.
Supporters point to Dundon’s track record with the Carolina Hurricanes, a franchise that has become a consistent playoff contender and financially healthy organization since he took over in 2018.
Critics note that Dundon has also drawn controversy in other ventures, including his brief and contentious ownership stint with the Alliance of American Football, which collapsed during his tenure.
What is clear so far is that Dundon has committed real capital and secured a major public investment for the Moda Center renovation, a signal that he intends to keep the team competitive and rooted in Portland for the long term.
Fans will get a clearer read on his stewardship once a full season passes under the new ownership group.
Are The Trail Blazers For Sale Again In 2026
No. The sale to Tom Dundon just closed, and the franchise is not on the market again.
The only remaining step in the current transaction is the transfer of the final 19.9 percent stake, which is scheduled to happen no later than 2028 under the terms already agreed to by both sides.
Barring an unexpected development, the Dundon group will remain the controlling owner of the Trail Blazers for the foreseeable future.
What The Sale Means For The Moda Center
One of the more consequential parts of this deal happened in Salem rather than on a basketball court.
Oregon lawmakers passed Senate Bill 1501, which allocates roughly 365 million dollars in state backed funding toward renovating the Moda Center.
That commitment was widely seen as a condition that helped keep the franchise anchored in Portland rather than opening the door to relocation talk, something that has hovered over the team during ownership uncertainty in recent years.
What Changes For Trail Blazers Fans In 2026
Day to day operations are expected to continue with relative stability in the short term.
New ownership groups typically spend their first season evaluating front office leadership, coaching staff, and long term roster strategy before making sweeping changes.
Fans should watch for updates on arena renovation timelines, ticket pricing, and any front office hires as the clearest early signals of how the new group plans to run the franchise.
How The Blazers Sale Compares To Other Recent NBA Deals
The Trail Blazers sale is part of a broader wave of NBA ownership turnover.
The Boston Celtics agreed to a record setting sale in 2025 that valued the franchise well above 6 billion dollars, and other teams have seen similar surges in valuation.
League wide, new national television agreements and continued global popularity have pushed franchise prices to levels that would have seemed unthinkable a decade ago.
For a broader look at how ownership works across a completely different global sport, see who owns FIFA, and for another major North American league structure, see who owns the NFL.
Trail Blazers Ownership Sources And Further Reading
This article draws on reporting from Sportico, which broke down the two stage structure of the transaction, along with background from Wikipedia’s history of the franchise and valuation data compiled by Forbes.
Readers who want the original deal announcement can also review coverage from ESPN for ongoing franchise news.
Frequently Asked Questions
Who is the current owner of the Portland Trail Blazers
Tom Dundon is the current controlling owner of the Portland Trail Blazers.
His group closed the first phase of the purchase from the Paul Allen estate on March 31, 2026.
How much did Tom Dundon pay for the Trail Blazers
The total transaction is valued near 4.25 billion dollars, split into a first stage at an approximate 4 billion dollar valuation and a final stage at roughly 4.5 billion dollars completing no later than 2028.
Who owned the Trail Blazers before Tom Dundon
The team was controlled by the estate of Paul Allen, the late Microsoft co founder, and managed by his sister Jody Allen as trustee since his death in 2018.
Will the Trail Blazers stay in Portland
Yes.
Oregon approved roughly 365 million dollars in state backed funding for a Moda Center renovation as part of the broader agreement, a strong signal that the team will remain in Portland for years to come.
I am Jack Neel, a mechanical engineer, researcher, and writer. I created this website to share my knowledge about different brands and products with you. I research the manufacturers behind the brands and provide you with the information you need to make smart buying decisions.