The NBA’s board of governors approved the sale of a controlling interest in the Portland Trail Blazers from Paul Allen’s estate to a group led by investor Tom Dundon on Monday.
The approval clears a major league step in the transfer of control from Allen’s estate, which has overseen the franchise since Allen’s death. The transaction involves a change in the team’s controlling interest to the Dundon-led group.
What it means
With the board’s vote, the league has formally signed off on the ownership change at the top of the organization. The Trail Blazers remain one of the NBA’s longstanding franchises, and the move marks a significant transition in the team’s ownership structure.