New Trail Blazers Owners Pledge Improvements at Moda Center

Billionaire Tom Dundon and venture capitalist Sheel Tyle outline plans to boost team performance and fan experience.

Apr. 2, 2026 at 10:48pm by Ben Kaplan

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A fragmented, geometric painting in vibrant colors depicting a basketball game or match, with sharp, overlapping planes representing the new ownership group's ambitious plans for the franchise.The new Trail Blazers ownership group's bold vision for the team's future is reflected in a cubist-inspired illustration that deconstructs the game of basketball.Portland Today

The new owners of the Portland Trail Blazers, led by Texas billionaire Tom Dundon and Portland-based venture capitalist Sheel Tyle, made their first public appearance at the Moda Center on April 2, 2026. They pledged to improve the team's performance and fan experience, while also seeking $600 million in public funding to renovate the aging arena.

Why it matters

The Trail Blazers are a beloved Portland institution, and the new ownership group's plans for the team and the Moda Center will have a significant impact on the city's sports landscape. The request for public funding also raises questions about the team's long-term future in Portland.

The details

Dundon, who also owns the Carolina Hurricanes hockey team, said he will introduce a more demanding environment to increase the pace of the organization's improvement. Tyle, the only Portland-based member of the ownership group, emphasized the team's power to bring the community together. The new owners are also seeking $600 million in public funding to renovate the Moda Center, which opened in 1995.

  • The new ownership deal was approved by the NBA on April 1, 2026.
  • The new owners made their first public appearance at the Moda Center on April 2, 2026.

The players

Tom Dundon

A billionaire from Texas who took control of the Trail Blazers on April 1, 2026, after his investment group's $4.25 billion purchase of the team from the estate of Paul Allen. Dundon also owns the Carolina Hurricanes professional hockey team.

Sheel Tyle

A Portland-based venture capitalist who is the only local member of the new Trail Blazers ownership group. Tyle is married to Oregon Health Authority Director Sejal Hathi.

Andrew Cherng

The co-founder of the Panda Express fast food chain, whose family has an estimated net worth of over $7 billion and is part of the new Trail Blazers ownership group.

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What they’re saying

“To me, one of the most special things about sport is the power to bring people together. It doesn't actually matter how you pray, who you love, etc., all that matters is on game day, in our case, it's all about the Portland Trail Blazers. That is something we feel passionately about in this ownership group. It's something we think that we need right now in this country and this world.”

— Sheel Tyle, Venture Capitalist

“I care more about my character than my reputation. I want to win and achieve things without hurting anybody.”

— Tom Dundon, Billionaire and New Trail Blazers Owner

What’s next

The new owners will continue to seek public funding for a renovation of the Moda Center, which they have suggested is necessary to keep the Trail Blazers in Portland long-term.

The takeaway

The new Trail Blazers ownership group, led by Tom Dundon and Sheel Tyle, is promising to improve the team's performance and fan experience at the Moda Center. However, their request for $600 million in public funding to renovate the aging arena has raised questions about the team's future in Portland.