The Trail Blazers have been sold after months of speculation .

On Wednesday, multiple outlets reported that Carolina Hurricanes owner Tom Dundon had agreed to purchase the franchise from Paul Allen's estate for more than $4 billion. Allen, a co-founder of Microsoft, purchased the Blazers for $70 million in 1988. He died in 2018 after a long battle with non-Hodgkin lymphoma. His will dictated that all of his sports holdings should be sold after his death.

The 53-year-old Dundon has been the majority owner of the Hurricanes since 2018 and was also an investor in the Alliance of American Football. He put $250 million into the project in January 2019, but the league suspended operations in April of that year. In addition to those efforts, Dundon is a significant investor in the growing s

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