Tom Dundon has reportedly reached an agreement to buy the Portland Trail Blazers from the estate of deceased owner Paul Allen, Eben Novy-Williams of Sportico reported Wednesday. Dundon also owns the NHL franchise, the Carolina Hurricanes.
Allen's estate reportedly dictated that his teams should be sold following his death, which occurred in October 2018.
Allen also owned the Seattle Seahawks and was a part-owner of the Seattle Sounders FC.
This breaking news story will be updated.
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