Paul G. Allen Estate Disputes Report That They're Keeping a Stake in Trail Blazers After Sale
The sale is expected to close before the end of the 2025-26 NBA season.
On opening night of the Trail Blazers' 2025-26 season, Paul Allen's sister, Jody, took in the loss to the Minnesota Timberwolves from her usual baseline seats under the Blazers' basket at Moda Center. Sitting with her, as they often do, were general manager Joe Cronin and president of business operations Dewayne Hankins.
Also sitting with them was Tom Dundon, the owner of the NHL's Carolina Hurricanes, who has a signed, legally binding agreement to buy the Blazers from the Paul G. Allen Estate for $4.25 billion. The sale is still waiting on a vote from the NBA's Board of Governors, but is widely expected to officially close before the end of this season. Other partners in Dundon's group include private equity executives Sheel Tyle and Marc Zahr as well as the Cherng family, co-founders of Panda Express, who recently resolved a lawsuit with RAJ Sports over their involvement in the group.
Longtime local columnist John Canzano reported on Friday morning that the purchase agreement between the estate and Dundon's group includes the estate retaining a 20 percent stake in the Blazers, which would be worth around $850 million.
A spokesperson for the Allen estate said on Friday that the report is "unequivocally false," and that once the sale closes, the Blazers will be owned entirely by Dundon's group, with the estate having no remaining stake in the team.
Spokespeople for the Hurricanes and the NBA league office did not immediately respond to requests for comment.
