The Portland Trail Blazers have found a new ownership group led by Tom Dundon, a businessman with diverse investments in sports and entertainment who has committed to keeping the team in Portland. The Paul Allen estate has reached a tentative agreement with Dundon and a group of investors in a deal reportedly exceeding $4 billion.

The NBA ownership carousel kept spinning on Tuesday, with private equity billionaire Tom Dundon agreeing to buy the Portland Trail Blazers for just over $4 billion from Paul Allen's estate. The league also approved Bill Chisholm's purchase of the Boston Celtics,

After years of uncertainty and months on the market, the Portland Trail Blazers reportedly have a new owner. Multiple outlets including Sportico reported on Wednesday morning that the estate of the team’s late owner Paul Allen has agreed to sell the Trail Blazers to a group headed by Carolina Hurricanes CEO Tom