Teams/Northwest Division
Portland Trail Blazers
Tom Dundon has led the group controlling the Trail Blazers since 31 March 2026, when it bought 80.1% at a $4.0B valuation. Forbes values the team at $4.3B, and it has had three ownership groups since 1970, counting Paul Allen and his estate as one.
Every owner since the start
- 2026-todayTom Dundon group (Rip City Rising)
Bought 80.1% from the Paul G. Allen Trust at a $4.0B valuation, with 19.9% to follow.
- 2018-2026Paul G. Allen estate, with his sister Jody Allen as trustee and team chair
Inherited on Paul Allen's death in October 2018. He directed that sale proceeds go to philanthropy.
- 1988-2018Paul Allen
Bought from Larry Weinberg for $70M in 1988.
- 1970-1988Herman Sarkowsky, Larry Weinberg and Robert Schmertz
Founded the team through NBA expansion; paid $3.7M. Weinberg was principal owner from 1975.
Value over time
- 12018 Paul Allen estate inherits
- 22026 Dundon group buys, $4.25B
Show the numbers
| Year | Forbes value |
|---|---|
| 1998 | $245M |
| 1999 | $257M |
| 2000 | $272M |
| 2002 | $283M |
| 2003 | $270M |
| 2004 | $247M |
| 2005 | $227M |
| 2007 | $253M |
| 2008 | $307M |
| 2009 | $338M |
| 2011 | $356M |
| 2012 | $370M |
| 2013 | $457M |
| 2014 | $587M |
| 2015 | $940M |
| 2016 | $975M |
| 2017 | $1.05B |
| 2018 | $1.3B |
| 2019 | $1.6B |
| 2020 | $1.85B |
| 2021 | $2.05B |
| 2022 | $2.1B |
| 2023 | $3.08B |
| 2024 | $3.5B |
| 2025 | $4.25B |
| 2026 | $4.3B |
| Year | Sale | Team valued at |
|---|---|---|
| 2026 | Dundon group buys 80.1% from the Paul G. Allen Trust at a $4.0B valuation | $4B |
| 2026 | Allen Trust's remaining 19.9% due by 1 Sept 2028 at a $4.5B valuation | $4.5B |
Forbes valued the Trail Blazers at $245M in 1998 and $4.3B in 2026, about 18 times as much. The biggest one-year jump was $980M, from $2.1B in 2022 to $3.08B in 2023; by percentage it was 2015, up 60%.
How the current owner bought it
- The Allen estate opened the sale in May 2025, and an agreement was reported that August at about $4.2B.
- The NBA approved unanimously on 30 March 2026, and the first stage closed the next day.
- The headline valuation is about $4.25B, between the two stage prices.
- Until the second payment, estate vice chairman Bert Kolde may observe board meetings without a vote.
- Rival bidder RAJ Sports and the Bhathal family sued, then settled and dropped the case in October 2025, Forbes reports.
Partners in the team
| Partner | Stake | Who they are |
|---|---|---|
| Paul G. Allen Trust | 19.9% | The seller; holds this stake until the second payment |
| Marc Zahr | undisclosed | Co-president of Blue Owl Capital; alternate governor |
| Sheel Tyle | undisclosed | Co-CEO of Portland-based Collective Global; alternate governor |
| Stanley Middleman | undisclosed | CEO of Freedom Mortgage; alternate governor |
| Andrew Cherng and the Cherng Family Trust | undisclosed | Co-founder of Panda Express; alternate governor |
| Other named investors | undisclosed | Richard Chaifetz, Marc Grandisson, Nayel Nassar, Jennifer Gates, Taavet Hinrikus and Dan Zilberman |
How the team is run
- Dundon is hands-on and cost-conscious on everything except players. Front Office Sports reported that some reserve players were left home for two playoff games.
- Dundon later called that a mistake. He says he sets no budget for players, and the team traded for Ja Morant in June 2026.
- The city owns Moda Center; a sister company of the team operates it. Oregon approved a mechanism for $365M of public renovation money in March 2026.
- The group asked for about $600M of public money, and Dundon has said none of his own will go in. A site agreement binds the team to Portland through October 2030. In September 2026 NBA commissioner Adam Silver said a move from Portland would be a failure.
- On 12 August 2026 Portland's council voted 8-4 for non-binding terms of a 20-year lease. The city would pay $120M up front and up to $275M for upkeep. The team would pay $3.2M a year in rent and a $3M yearly fee in place of property tax. Talks are due to end with a final council vote in early December 2026.
Quick answers
Who owns the Portland Trail Blazers?
Tom Dundon has led the group controlling the Trail Blazers since 31 March 2026, when it bought 80.1% at a $4.0B valuation.
How much are the Portland Trail Blazers worth?
Forbes values the Portland Trail Blazers at $4.3B in its October 2026 list, up 1% from $4.25B a year earlier. That makes them the 26th most valuable of the 30 teams; in 1998 Forbes put the team at $245M.
How much did the current owner pay for the Trail Blazers?
$4.25B valuation (Tom Dundon, 2026).
Who owned the Portland Trail Blazers before the current owner?
Paul G. Allen estate, with his sister Jody Allen as trustee and team chair (2018-2026). Inherited on Paul Allen's death in October 2018. He directed that sale proceeds go to philanthropy.
Open questions
- Dundon's own percentage, each partner's share and any debt used: not found.
- Whether the lease has been agreed: no agreement reported as of 28 October 2026; the final council vote is due in early December.
- First-stage terms: Front Office Sports reports 80% at a $4.2B valuation instead.
- Closing date: Wikipedia gives 3 April 2026; the team's 31 March is used.