Hurricanes Owner Dundon Sells Minority Stake as He Pursues Trail Blazers Deal

The sale comes as Dundon leads a group buying the NBA's Portland Trail Blazers for $4.25 billion.

Published on Mar. 5, 2026

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Carolina Hurricanes owner Tom Dundon has sold a 12.5% minority stake in the NHL franchise as he pursues the purchase of the Portland Trail Blazers for $4.25 billion. The Hurricanes are valued at $2.66 billion, and the team has become one of the premier franchises in the NHL in recent years under Dundon's ownership.

Why it matters

The sale of the Hurricanes stake suggests Dundon may be using the funds to support his acquisition of the Trail Blazers, which would make him a major player in both the NHL and NBA. The Hurricanes' rising valuation also highlights the growth of the franchise under Dundon's leadership.

The details

Dundon, a Texas billionaire who was an early investor in Topgolf, took full ownership of the Hurricanes in 2021. Since then, the team in Raleigh has become one of the premier franchises in the NHL and is once again in the hunt for the Stanley Cup this season. The organization's estimated valuation has soared in recent years — it was below $1 billion in 2023.

  • Dundon took full ownership of the Hurricanes in 2021.
  • The Hurricanes' valuation was below $1 billion in 2023.
  • The sale of the 12.5% minority stake in the Hurricanes occurred in March 2026.
  • The $4.25 billion purchase of the Portland Trail Blazers is expected to close in the coming weeks.

The players

Tom Dundon

A Texas billionaire who was an early investor in Topgolf and is the owner of the Carolina Hurricanes. He is leading a group that is buying the Portland Trail Blazers for $4.25 billion.

Carolina Hurricanes

An NHL franchise based in Raleigh, North Carolina that has become one of the premier teams in the league under Dundon's ownership.

Portland Trail Blazers

An NBA franchise that Dundon is purchasing for $4.25 billion, making him a major player in both the NHL and NBA.

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What’s next

The $4.25 billion purchase of the Portland Trail Blazers is expected to close in the coming weeks.

The takeaway

Dundon's sale of a minority stake in the Hurricanes suggests he may be using the funds to support his acquisition of the Trail Blazers, making him a major player in both the NHL and NBA. The Hurricanes' rising valuation also highlights the growth of the franchise under Dundon's leadership.