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 reached an agreement to purchase the Portland Trail Blazers, according to Sportico. In the potential transaction, Dundon buys the NBA franchise from previous owner Paul Allen's estate.

According to ESPN’s NBA insider Shams Charania, Dundon has agreed to buy the Trail Blazers from the estate of Paul G. Allen for a valuation of over $4 billion. The Trail Blazers’ valuation is listed at $3.65 billion according to CNBC’s latest Official NBA Team Valuations.