Billionaire Tom Dundon buys Portland Trail Blazers for $4.25B

The NBA Board of Governors approves the sale, ending the Paul Allen era of team ownership.

Mar. 31, 2026 at 2:16am by Ben Kaplan

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A cubist-style painting featuring fragmented, geometric shapes in navy, green, and orange hues, conceptually representing the transition of the Portland Trail Blazers to new ownership.The sale of the Portland Trail Blazers to a new ownership group signals a shift in the franchise's direction and ambition.Portland Today

The Portland Trail Blazers have been sold to a group led by billionaire Tom Dundon for a reported $4.25 billion, marking the end of the franchise's nearly 40-year ownership under the late Paul Allen. The NBA's Board of Governors has approved the sale, which will usher in a new era for the team.

Why it matters

The sale of the Trail Blazers represents a major shift in the team's direction and ambitions, as Dundon is expected to bring a new vision and investment strategy compared to Allen's more hands-off approach. This could impact the team's roster, coaching staff, and overall competitiveness in the NBA.

The details

The deal values the Trail Blazers at around $4.25 billion, making it one of the most valuable NBA franchises. Dundon, the chairman and majority owner of Dundon Capital Partners, will take over as the team's new owner. The sale marks the end of Paul Allen's nearly 40-year ownership of the franchise, which he purchased in 1988.

  • The NBA Board of Governors approved the sale on March 30, 2026.
  • Paul Allen purchased the Trail Blazers in 1988.

The players

Tom Dundon

The billionaire chairman and majority owner of Dundon Capital Partners, who is leading the group that purchased the Portland Trail Blazers.

Paul Allen

The late co-founder of Microsoft, who owned the Portland Trail Blazers for nearly 40 years before his passing.

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What they’re saying

“This is an exciting new chapter for the Trail Blazers franchise. We look forward to building on the team's strong foundation and taking them to new heights.”

— Tom Dundon, New Owner, Portland Trail Blazers

What’s next

The new ownership group is expected to evaluate the team's roster, coaching staff, and front office in the coming months as they implement their vision for the franchise.

The takeaway

The sale of the Trail Blazers to billionaire Tom Dundon marks the end of an era for the franchise, which was owned by the late Paul Allen for nearly 40 years. Dundon's acquisition signals a new chapter of ownership and ambition for the team, which could lead to significant changes in the years ahead.