The Portland Trail Blazers have found a new ownership group led by Tom Dundon, a businessman with diverse investments in sports and entertainment who has committed to keeping the team in Portland. The Paul Allen estate has reached a tentative agreement with Dundon and a group of investors in a deal reportedly exceeding $4 billion.

An ownership group led by Tom Dundon, owner of the NHL's Carolina Hurricanes, has reached a tentative deal to purchase the Portland Trail Blazers from the estate of Paul Allen, according to multiple reports.