Tom Dundon’s “Rip City Rising” Ownership Group Acquires Portland Trail Blazers (and Rip City Remix, Rip City Management) in $4.25B Deal
April 3, 2026
The NBA Board of Governors approved the reported $4.25 billion sale of the Portland Trail Blazers led by Tom Dundon and his “Rip City Rising” ownership group. The transaction also includes the Rip City Remix in the NBA G League and Rip City Management, which operates the Moda Center, with the new owners taking over the team on Tuesday.
- Buyers
- Tom Dundon, Sheel Tyle, Marc Zahr, Blue Owl Capital, Cherng Family Trust, Stan Middleman, Freedom Mortgage, Rip City Rising ownership group
- Targets
- Portland Trail Blazers, Rip City Remix, Rip City Management
- Sellers
- Paul Allen's estate
- Industry
- Media & Entertainment
- Location
- Oregon, United States
- Transaction Type
- Buyout
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