A group led by Tom Dundon has completed a deal to buy Portland Trail Blazers, Yankee Scores reports
Paul Allen, a billionaire businessman who died in 2018, owned the Trail Blazers. Last May, the team was put up for sale, and all the money from the sale went to Allen’s charitable work. Actually, the deal’s financial terms weren’t made public, but it’s thought to be worth about $4.25 billion (£3.21bn).
New Sheriff in town
Dundon will be the team’s governor, and the team will stay in Portland. He said:
“Today is the beginning of a new chapter for the Portland Trail Blazers, as we build on the legacy of this storied franchise,” Dundon said “My commitment is that we are going to be relentless towards building a team that can compete at the highest level.”
In 1988, Allen, who co-founded Microsoft with Bill Gates, bought the team from one of its founders, Larry Weinberg, for $70 million (£52.9 million).
He also owned the NFL team Seattle Seahawks. nThe group led by Tom Dundon also owns the NHL team Carolina Hurricanes.
What’s Next?
The Trail Blazers, who have only won one NBA championship (in 1977), have had a tough season.
Their head coach, Chauncey Billups, has been suspended indefinitely. Billups was charged with illegal sports betting and allegedly rigged poker games linked to the mafia.With Tiago Splitter as their interim coach, they are set to play in the post-season play-in tournament, which starts on April 14.
