Quick Facts: Portland Trail Blazers
| Current Owner | Tom Dundon-led investor group |
| Ownership Type | Private |
| Deal Value | $4.25 billion (blended ~$4.1B valuation) |
| NBA Approval | March 30, 2026 |
| Previous Owner | Paul Allen estate / Allen family trust |
| Founded | 1970 |
| Arena | Moda Center, Portland |
Who Owns the Portland Trail Blazers?
A group led by Tom Dundon closed its purchase of the Portland Trail Blazers in 2026, ending nearly three decades of ownership by the late Paul Allen and, after his 2018 death, his estate.
The NBA’s Board of Governors approved the sale on March 30, 2026, at a total deal value of $4.25 billion — one of the largest transactions in NBA history and a huge jump from the roughly $70 million Allen paid for the team back in 1988.
Dundon isn’t buying alone. His group includes Marc Zahr of Blue Owl Capital, entrepreneur Sheel Tyle, the Cherng Family Trust (the family behind Panda Express), and businessman Stanley Middleman — a mix of private equity, tech, and restaurant-industry money.
The structure is a two-part transaction: the group takes roughly 80% of the team now, with the remaining 20% scheduled to transfer by 2028, giving the Allen estate a longer runway to fully exit.
Portland Trail Blazers Ownership History
The Blazers have had just two ownership eras in over 50 years — Allen’s nearly 30-year run, and now the Dundon group.
| Year | Event | Owner / Key Figure | Notes |
|---|---|---|---|
| 1970 | Franchise founded | Original ownership group | NBA expansion team |
| 1977 | First NBA championship | Larry Weinberg (owner at the time) | Only title in franchise history |
| 1988 | Bought by Microsoft co-founder | Paul Allen (~$70 million) | Start of Allen era |
| 2018 | Paul Allen dies | Allen estate / Jody Allen (trustee) | Team held in trust |
| 2026 | Sold for $4.25 billion | Tom Dundon-led group | NBA approved March 30; phased 80%/20% deal through 2028 |
About Tom Dundon
Tom Dundon made his fortune in consumer finance before moving aggressively into sports ownership over the past decade.
He bought a controlling stake in the NHL’s Carolina Hurricanes in 2018 for roughly $420 million, and separately built out Major League Pickleball and the PPA Tour, betting early on pickleball’s boom in popularity.
The Blazers purchase makes Dundon one of the few owners in North America with major stakes across three different sports leagues.
Key Ownership Highlights
- This is one of the largest NBA sales ever recorded: at $4.25 billion, the Dundon deal dwarfs the roughly $70 million Paul Allen paid in 1988 — nearly 60x growth in under 40 years.
- The Allen estate isn’t exiting all at once: the phased structure hands over roughly 80% immediately, with the final 20% following by 2028.
- The buying group blends private equity, tech, and restaurant money: Marc Zahr (Blue Owl Capital), Sheel Tyle, the Cherng Family Trust (Panda Express), and Stanley Middleman join Dundon in the deal.
- Dundon now owns across three major sports: the NBA’s Blazers, the NHL’s Carolina Hurricanes, and pickleball’s PPA Tour/Major League Pickleball.
- The 1977 championship remains the franchise’s only title: nearly 50 years without a repeat, spanning multiple ownership eras.
Frequently Asked Questions
Who owns the Portland Trail Blazers now?
A Tom Dundon-led investor group, following NBA Board of Governors approval on March 30, 2026, in a $4.25 billion deal.
Who owned the Blazers before this sale?
The Paul Allen estate, managed in trust since Allen’s death in 2018, following his purchase of the team in 1988.
Is the ownership transfer complete?
It’s structured in two parts — roughly 80% now, with the remaining 20% transferring to the Dundon group by 2028.
Who else is in the ownership group besides Tom Dundon?
Marc Zahr of Blue Owl Capital, entrepreneur Sheel Tyle, the Cherng Family Trust (Panda Express), and businessman Stanley Middleman.
What other sports teams does Tom Dundon own?
He owns a controlling stake in the NHL’s Carolina Hurricanes (since 2018) and built Major League Pickleball and the PPA Tour.
