The Portland Trail Blazers are a professional basketball team based in Portland, Oregon, competing in the National Basketball Association (NBA). Founded in 1970, the team has won one NBA Championship (1977) and is known for its passionate fan base and historic players. The Trail Blazers play their home games at the Moda Center in Portland.
Since the passing of Paul G. Allen in 2018, the team has been overseen by his sister Jody Allen as chairwoman. The team is now in the process of being sold to a new ownership group led by Tom Dundon.
Ownership Status of Portland Trail Blazers
The Trail Blazers are transitioning from ownership by the estate of Paul G. Allen to a private investment group led by Tom Dundon. The sale, valued at approximately $4.25 billion, is part of Allen’s estate plan to divest his sports holdings for philanthropic purposes.
Major Shareholders
| Shareholder / Entity | Ownership Percentage | Notes |
|---|---|---|
| Tom Dundon | Majority Owner | Owner of NHL’s Carolina Hurricanes; leading the purchase. |
| Marc Zahr | Minority Investor | Co-president of Blue Owl Capital. |
| Sheel Tyle | Minority Investor | Co-CEO of Collective Global, Portland-based VC firm. |
| Cherng Family Trust | Minority Investor | Representing Panda Express founders; net worth $7.5B. |
Note: The group is committed to keeping the team in Portland and exploring options for the Moda Center.
About Tom Dundon
Tom Dundon is a 53-year-old American billionaire businessman, investor, and sports franchise owner. He is the chairman and managing partner of Dundon Capital Partners, a Dallas-based private investment firm. Dundon became the majority owner of the Carolina Hurricanes in 2018 and later acquired full ownership. He also owns stakes in Topgolf and the professional pickleball industry, including a majority stake in the PPA Tour and Major League Pickleball.
Tom Dundon Net Worth
Tom Dundon’s net worth is estimated between $1.2 billion and $1.7 billion. His wealth comes from his diverse investment portfolio, which includes professional sports teams, technology, financial services, and hospitality ventures. While Dundon is the lead owner of the Trail Blazers, the $4.25 billion acquisition is funded in part by investor contributions and financing arrangements.
Key Shareholder Highlights
The Trail Blazers’ new ownership is a mix of active and strategic investors:
- Tom Dundon is the primary owner and leader of the group, bringing extensive experience in sports ownership and investment.
- Marc Zahr contributes investment expertise through Blue Owl Capital.
- Sheel Tyle adds local venture capital insight for Portland-based initiatives.
- Cherng Family Trust, with a net worth of $7.5 billion, represents the wealthiest investors in the group, providing significant financial backing.
Recent Developments in Ownership
Recent filings indicate:
- In October 2025, the Allen Estate formally agreed to sell the Trail Blazers to Tom Dundon-led consortium.
- Legal disputes regarding the sale were settled out of court, clearing the way for the transaction.
- NBA Board of Governors approval is still required, with finalization expected by March 31, 2026.
FAQs
1. Who is the current owner of Portland Trail Blazers?
The team is in the process of being acquired by Tom Dundon and his investment group. Until NBA approval is finalized, the estate of Paul G. Allen oversees the team.
2. Is Portland Trail Blazers publicly traded or privately owned?
It is privately owned. Ownership is transferring from the estate of Paul Allen to a private investor group.
3. Who founded Portland Trail Blazers?
The Trail Blazers were founded in 1970.
4. Has the ownership changed recently?
Yes. In October 2025, the Allen Estate agreed to sell the team to Tom Dundon’s group.
Portland Trail Blazers Official Site
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