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,

Tom Dundon, owner of the NHL's Hurricanes, has agreed to buy the NBA's Trail Blazers for more than $4 billion and keep the team in Portland, sources told ESPN.

The sale price remains unclear, but Dundon's group includes Portland CEO Sheel Tyle and the collective intends to keep the team in Portland.