PORTLAND, Ore. (AP) — 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, a person with knowledge of the negotiations told The Associated Press on Wednesday.
The person spoke to the AP on condition of anonymity because the team hadn’t yet made an official statement.
Dundon intends to keep the Trail Blazers in Portland, the person said. The group includes Sheel Tyle, the co-founder of the investment firm Collective Global.
The NBA Board of Governors must ratify any final purchase agreement. ESPN reported Wednesday that the deal was for $4 billion.
Allen’s estate announced in May that it had begun the process of selling the Trail Blazers.
Allen, the billionaire co-founder of Microsoft, died in 2018 at age 65 from complications of non-Hodgkin lymphoma. Since then, his sister, Jody Allen, has served as chair of the Trail Blazers and the NFL’s Seattle Seahawks and is a trustee of the Paul G. Allen Trust.
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