Paul Allen’s estate has agreed to a tentative agreement to sell the Portland Trail Blazers to a group led by Carolina Hurricanes owner Tom Dundon.

Dundon confirmed the agreement in a text exchange with The Associated Press on Wednesday. He also confirmed plans to keep the team in Portland.

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The group includes Sheel Tyle, the co-founder of investment firm Collective Global, and Marc Zahr, co-president of Blue Owl Capital.

The NBA Board of Governors must ratify any final purchase agreement. ESPN reported Wednesday that the deal was for $4 billion. Dundon did not reveal the terms of the sale to the AP.

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