The news comes after months of swirling rumors and anxious speculation about the franchise’s future in the City of Roses. Since Jody Allen, Paul Allen’s sister, signaled her intention to sell, questions loomed: Would the Blazers remain in Portland? Would the new owner be committed to Rip City’s legacy? Today, those fears were put to rest. Dundon, in collaboration with financial heavyweights like Marc Zahr of Blue Owl Capital and local business leader Sheel Tyle, has vowed to keep the team rooted in its home since 1970. As one insider told The Oregonian: “People can stop worrying about that now.”
Tom Dundon, 53, is no stranger to high-stakes sports investments. Based in Dallas, Texas, he took majority control of the Carolina Hurricanes in 2018, instantly revitalizing the franchise. Under his guidance, the Hurricanes have become perennial playoff contenders, making the postseason for seven consecutive years and reaching the conference finals three times. Dundon’s business acumen extends beyond the ice: he is the founder and chairman of Dundon Capital Partners, a major investor in Topgolf, and the driving force behind several ventures in sports and financial services. He’s also left his mark on emerging leagues, previously backing the Alliance of American Football and now serving as a leading figure in professional pickleball.
For Portland, the transition could not be more timely. The Blazers are coming off a 36-46 season, missing the playoffs for the fourth straight year, and face pressing questions about the aging Moda Center. NBA Commissioner Adam Silver has already signaled the need for significant arena upgrades—or perhaps a new home altogether. Dundon’s group, which notably includes local investors like Columbia Sportswear CEO Tim Boyle, will need to balance financial ambition with the city’s cherished basketball identity. Their first and most important promise: the Blazers are not going anywhere.
The sale must still clear NBA Board of Governors approval, a process that could stretch over several months. Yet, the intent is clear. Dundon and his partners are passionate about basketball, committed to the Portland community, and eager to reinvigorate a franchise hungry for a return to greatness. As the ink dries on this monumental deal, Blazers fans can look ahead with renewed hope, their beloved team’s future finally secured. For more on Tom Dundon’s journey and his ownership philosophy, follow his official updates at @TDCanes.