FILE - Tom Dundon, majority owner of the Carolina Hurricanes talks to the media about his $250 million investment in the Alliance of American Football league before the start of an NHL hockey game between the New York Rangers and the Carolina Hurricanes in Raleigh, N.C, Tuesday, Feb. 19, 2019.
Chris Seward / AP
It’s been a big week for the Portland Trail Blazers since news broke that billionaire Tom Dundon and a group of investors intend to buy the team from the estate of former owner Paul Allen. The price of that deal could exceed $4 billion, according to Sportico and ESPN.
Here are four things you may have missed about the Trail Blazer’s new billionaire owner.
He has a variety of investments in sports
Dundon is probably most well known for owning the majority share in the Carolina Hurricanes hockey team, which he purchased in 2021.
He’s also the CEO of Dundon Capital, which he has focused on full time. He also has major investments in real estate, multiple pickleball companies and Topgolf, according to his biography.
He has experience renovating stadiums
Dundon already has experience creating new entertainment districts for his teams, a background that could prove relevant to the future of the Blazers in Portland.
The Carolina Hurricanes are developing a $1 billion mixed-used development in and around the team’s stadium in Raleigh, North Carolina. It includes a 150-room hotel, 400 apartment units, a 4,300-seat concert venue and more retail options, according to the Raleigh News and Observer.
NBA Commissioner Adam Silver has said the Blazers will likely need a new arena to keep the team in Portland.
Dundon and the new ownership group are already courting potential local investors in the team, potentially including Columbia Sportswear CEO Tim Boyle, according to the Oregonian/OregonLive.
Boyle was not immediately available for comment Sunday.
Related: What to know about the Portland Trail Blazers’ new owners
He wants to bring an MLB team to North Carolina
Dundon has also expressed interest in attracting professional baseball to North Carolina.
A spokesperson for the Carolina Hurricanes said last week that Dundon was still interested in an MLB team even after purchasing the Blazers, according to WCNC Charlotte.
Portland is in the midst of its own quest to secure an MLB franchise. The Portland Diamond Project — a group of prospective owners fronted by former Nike executive Craig Cheek — is the main body leading that effort.
Last year, the group secured the Zidell Yards site in Portland’s South Waterfront as the location for a potential new stadium. Oregon’s Legislature has also promised funding dedicated to a new baseball stadium if Portland secured a team.
Related: Trail Blazers sold to group that will keep team in Portland, reports say
He has a close relationship with Mark Cuban
Mark Cuban, the billionaire who owns a minority stake in the Dallas Mavericks, has a long history with Dundon. Cuban advised Dundon during his purchase of the Hurricanes, according to KGW.
Cuban sold his 73% majority stake of the Mavericks in 2023. The two reportedly played basketball together twice a week, according to a Triangle Business Journal story from 2018.
“He loves and knows basketball. He won in the NHL. I think fans will really like Tom,” Cuban told KGW.
