PORTLAND, Ore. — Tom Dundon, owner of the NHL's Carolina Hurricanes, has a tentative deal to purchase the Portland Trail Blazers from the estate of Paul Allen, according to multiple reports.

Sportico's Scott Soshnick and Eben Novy-Williams first reported the agreement, later confirmed by ESPN's Shams Charania , who reported the sale price is for more than $4 billion.

The buying group also includes Marc Zahr, co-president of Blue Owl Capital, and Portland native Sheel Tyle, co-CEO of Collective Global, according to Sportico.

Sportico reported the prospective owners plan to keep the Trail Blazers in Portland.

"We are excited," the 53-year-old Dundon told Sportico in an email.

The closing date has not been disclosed. Any franchise sale must be approved by the NBA Board of Governor

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