The expected has become official: The NBA Board of Governors has approved the sale of the Portland Trail Blazers, a group led by Carolina Hurricanes owner Tom Dundon.
The vote was unanimous, according to Jason Quick of The Athletic.
The franchise was valued at $4.25 billion for the sale. The new owners purchased the team from the Paul Allen Trust, which has been run by Allen’s sister Judy Allen since 2018, when the Microsoft co-founder died. All proceeds from the sale will be directed to charities, as the trust requires.
Dundon takes over a team that has just received state approval for major upgrades and renovations to the Moda Center. On the court, the Trail Blazers are a transitioning team that has veterans — Jrue Holiday, next season Damian Lillard — but is really built around younger stars such as Deni Avdija, Sharron Sharpe and Scoot Henderson.