Dundon confirmed the sale while declining to comment on the exact transaction value, saying he was “ very excited .” The estate of billionaire Paul Allen announced the Blazers were formally up for sale in May,

Carolina Hurricanes owner Tom Dundon reportedly reached an agreement to buy the Portland Trail Blazers from the estate of deceased owner Paul Allen, Eben Novy-Williams of Sportico reported Wednesday. Dundon will reportedly pay over $4 billion for the franchise, per ESPN's Shams Charania.

Tom Dundon, owner of the NHL’s Carolina Hurricanes, confirmed Wednesday that he has agreed to buy the NBA’s Portland Trail Blazers.