PORTLAND, Ore. — If Tom Dundon and his investment group end up buying the Trail Blazers, a new vibe will engulf the franchise, a source close to Dundon says.
“He brings a swagger,’’ the source said to The Athletic. “If Tom was the owner last year, he would have been trying to get Luka (Dončić). He would be like, ‘Why should the Lakers have him?’’’
Dundon, the owner of the NHL’s Carolina Hurricanes, has reached an exclusivity agreement with Paul Allen’s estate, which means there will be no negotiations with other interested buyers. Dundon’s group is in the process of negotiating documents, but the source close to Dundon says all major points have been agreed upon. The hope is to have a purchase agreement signed in September. A target date of March 31, 2026, has been set for the close of the deal.
The estate expressed a desire for the team to stay in Oregon, and the source told The Athletic the team will remain in Portland.
Dundon, who is from Dallas, has teamed with Chicago-based investor Marc Zahr and Sheel Tyle, the co-CEO of Collective Global Management, to buy the team from Allen’s estate for $4.25 billion. Tyle is from Houston but has lived in the Portland area for the past two years. His wife, Sejal Hathi, is the director of the Oregon Health Authority.
Once a purchase agreement is reached, the NBA will set a date for its Board of Governors to vote on the sale. If the sale is approved by the scheduled closing date of March 31, the new owners will take over with six games remaining in the 2025-2026 season.
The future of the Moda Center, where the Blazers have played since 1995, is unclear. The team has signed a lease to continue playing its games in the arena through 2030, but NBA Commissioner Adam Silver has stated a new arena will likely need to be built. The source said while there are issues with the Moda Center — ranging from its small visitor’s locker room and the quality of the suites — “nothing about the arena is a deal breaker on its own. It’s lots of little things that add up.”
One thing is clear: If Dundon does buy the Blazers, winning will become priority No. 1. When he took over the Hurricanes, Carolina had missed the playoffs for nine consecutive seasons. In his tenure, the Hurricanes have made the playoffs in all seven seasons, including three trips to the Eastern Conference final.
“He’s a winner,” the source said. “He’s a straight shooter, and rolls up his sleeves and gets to work. He’s already talking basketball, and he already knows all the salaries of players and employees. He’s really invested in the players — he says you can’t compromise on players.”
(Photo of Tom Dundon: James Guillory / USA Today via Imagine Images)