Carolina Hurricanes owner Tom Dundon completes $4.25bn Trail Blazers takeover
Carolina Hurricanes owner Tom Dundon has completed a $4.25bn (£3.21bn) takeover of the Portland Trail Blazers from the estate of late billionaire Paul Allen.
The landmark agreement ensures the Western Conference franchise will remain permanently rooted in Oregon.
Dundon, who already owns the National Hockey League’s Carolina outfit, will immediately assume the critical role of team governor.
All proceeds from this lucrative sale are strictly destined for philanthropic causes established by Allen prior to his death in 2018.
New era follows turbulent season
The Microsoft co-founder originally purchased the basketball team for $70m (£52.9m) in 1988 from original franchise founder Larry Weinberg.
Under Allen’s lengthy stewardship, the organisation became a staple of the Pacific Northwest sporting landscape alongside his NFL property, the Seattle Seahawks.
The incoming ownership group now inherits a roster navigating significant off-court turmoil and a transitional period on the hardwood.
“Today is the beginning of a new chapter for the Portland Trail Blazers, as we build on the legacy of this storied franchise.” Tom Dundon
“On behalf of our ownership group, my commitment to this tremendous fan base is that we are going to be relentless towards building a team that can compete at the highest level, every single season.”
Billups suspension casts shadow
The 1977 NBA champions have endured a highly challenging campaign severely overshadowed by legal allegations involving their coaching staff.
Head coach Chauncey Billups currently remains suspended indefinitely following an FBI investigation into illegal sports betting and allegedly rigged, mafia-linked poker games.
Interim coach Tiago Splitter has since taken the tactical reins during this period of unprecedented organisational disruption.
Despite the persistent off-court chaos, the resilient squad has successfully secured a berth in the post-season play-in tournament, which commences on 14 April.
