Carolina Hurricanes Owner Reportedly Buys Portland Trail Blazers For $4 Billion

The Portland Trail Blazers will be under new management ... as the estate of Microsoft co-founder Paul Allen has reportedly agreed to sell the team to Carolina Hurricanes owner Tom Dundon for a whopping $4 billion!!

Dundon will be one of three people in the group set to purchase the organization, according to Sportico. The outlet also stated the plan is to keep the team in Rip City once the deal goes through.

Allen's estate put the for-sale sign on the Trail Blazers back in May. In the announcement, they said the sale was "consistent with Allen's directive to eventually sell his sports holdings and direct all estate proceeds to philanthropy."

The Blazers aren't the only NBA team sold this year ... as the Boston Celtics went for $6.1 billion in March to Bill Chisholm -- a managing partner at Symphony Technology Group.

Allen -- who passed away from septic shock related to his cancer in 2018 -- bought the team back in 1988 for $70 million. Today, it has a value of $3.6 billion.

Dundon purchased the NHL's Hurricanes in 2018 for $425 million from Peter Karmanos Jr. His other ventures in sports include the now-defunct Alliance of American Football, where he served on the board of directors.

Since taking over, the Hurricanes have made the playoffs every single year ... reaching the conference final three times -- but have yet to hoist the Stanley Cup.

Portland hasn't had a winning record since the 2020-21 season, but the team recently welcomed back Damian Lillard after he was waived by the Milwaukee Bucks amid his torn Achilles recovery.

The future Hall of Famer most likely won't step on the court this season ... but fans couldn't be happier to have him back.