Blazers News: Mark Cuban Reacts to Portland's New Owner

Former Dallas Mavericks majority owner Mark Cuban has weighed in on Portland's new majority stakeholder.

Earlier this week, it was announced that a new group fronted by Carolina Hurricanes NHL team owner Tom Dundon is purchasing the Paul G.

Allen estate's majority share of the Trail Blazers for a valuation worth north of $4 billion.

Co-CEO of Collective Global Sheel Tyle, who's based in Portland, and Blue Owl Capital co-president Marc Zahr are also involved in the purcase.

The Trail Blazers join the Los Angeles Lakers and Boston Celtics as the third NBA franchise to be sold at an exponential profit level this year.

Those bigger-market squads sold for considerably more, with L.A.'s team valuation being projected at a wild $10 billion and Boston's set at $6.1 billion.

More news: Portland Trail Blazers Being Sold to NHL Owner for Over $4 Billion Still, for a small-market franchise in a city that has no other male teams in the other country's top four sports $4 billion represents quite the sum.

Cuban sold his controlling interest of 73 percent of the team in November 2023, netting an estimated $3.5 billion.

He will be a great owner.

He loves and knows basketball," Cuban told KGW News Portland's Devon Haskins of Dundon.

"He won in the NHL.

I think fans will really like [Tom].

More news: Insider Reveals Why Blazers Staying in Portland After Sale is Likely Bad News for Locals Paul Allen, who was worth an estimated $20.3 billion at the time of his passing in October 2018, purchased his initial stake in Portland for $70 million in 1988.

His sister Jody is the executor of his estate.

Jody Allen will now turn to selling the trust's stakes in the NFL's Seattle Seahawks and the MLS's Seattle Sounders FC.

Dundon Buying Into a Team in Transition Dundon now inherits a Portland team in transition from the Allen trust.

The Trail Blazers have missed the playoffs for each of their past four seasons under recently-extended head coach Chauncey Billups, but the club seemed to stumble upon an exciting, defense-first identity behind young forward Toumani Camara at the end of last season, and a uniquely pass-happy pace-and-space offense behind young forward Deni Avdija.

Portland bought out oft-hurt former starting center Deandre Ayton this summer as it looks to prioritize second-year big man Donovan Clingan and rookie first-round pick Yang Hansen.

The Trail Blazers also acquired a pair of 35-year-old former All-Star point guards in Jrue Holiday, added in a straight-up swap for Anfernee Simons, and prodigal son Damian Lillard.

Lillard, who signed a three-year deal with the Trail Blazers after his own buyout with the Milwaukee Bucks, tore his Achilles tendon during the playoffs, and will likely sit out the entire season recovering.

For more news and notes on the Portland Trail Blazers, visit Portland Trail Blazers on SI ..

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