Sheel Tyle

Northwest Notes: Blazers, Caruso, Jazz, Nuggets, Johnson

October 23rd, 2025 at 5:08pm CST by Luke Adams

The sale of the Trail Blazers to Tom Dundon will take place in multiple stages over the next few years, sources with knowledge of the situation tell Alex Schiffer of Front Office Sports.

After Dundon officially signed a purchase agreement last month, the expectation is that the sale will close in March and he’ll become the team’s majority owner at that time. According to Schiffer, a second transaction will occur at a later date, with Dundon buying the remaining shares in the team from the Allen estate at that time.

A source who spoke to Front Office Sports compared the deal to the Celtics’ sale, in which William Chisholm took over a controlling interest in the franchise earlier this year but isn’t expected to buy the remaining stake until 2028. This structure had been anticipated for the Blazers’ sale, with reporting on the initial tentative agreement suggesting that the $4.25 billion valuation of the franchise was a “blended” figure based on two separate projected payments.

Dundon and Sheel Tyle, who will be a minority stakeholder in the new ownership group, attended the team’s regular season opener in Portland on Wednesday, notes Jason Quick of The Athletic. The schedule began with a loss to the division-rival Timberwolves, though the team suffered a greater loss on Thursday, when head coach Chauncey Billups was arrested and placed on leave after being accused of helping to rig illegal poker games backed by the mafia.

We have more from around the Northwest:

Thunder guard Alex Caruso entered the NBA’s concussion protocol after Tuesday’s win over Houston and will have to go through the return-to-participation protocol and show he’s symptom-free before he’s cleared to return, per the team (Twitter link via Rylan Stiles of SI.com). Caruso will be inactive for Thursday’s NBA Finals rematch in Indiana.
Coming into the season, no team was projected to have a lower win total than the Jazz, so it came as a surprise when they ran out to a 37-point lead in a blowout win over the Clippers in Wednesday’s season opener. Andy Larsen of The Salt Lake Tribune shares his takeaways from a memorable start to the season, noting that 2024 first-round pick Cody Williams is out of the rotation but Utah still showed how its youth can be an asset rather than a liability. “We need to reframe that in our brains,” head coach Will Hardy said after his team beat the much older Clippers. “If we’re a little short on experience, we can still be high on energy.”
In an interesting feature story for The Denver Post, Bennett Durando details how the connection between executive VP of player personnel Jon Wallace and star guard Jamal Murray is emblematic of the reinvigorated Nuggets, who feel “more like a team,” in the words of Aaron Gordon, following the organizational upheaval which saw Denver part with its head coach and GM with just three games remaining in the 2024/25 regular season. Wallace, whom Durando describes as the Nuggets’ new co-general manager alongside executive VP of basketball operations Ben Tenzer, has long had a close relationship with Murray and challenged him to be a more consistent leader this summer. “It’s like, ‘All right, how do you turn up the mental level? What’s the small percentage that makes you a little bit better, that helps you kind of reinvent yourself or unlock another level of your attack?’” Wallace told The Post. “… That was the whole thing behind this summer. ‘I want you to be vocal, because when you’re vocal, you’re engaged, and when you’re engaged, your teammates look to you, and they revere you, and they respect you.’“
Nuggets forward Cameron Johnson learned resilience from his father and by extension his late grandmother. It’s a quality he believes will help him as he works to get comfortable both on and off the court in Denver, Quick writes for The Athletic. Johnson’s new teammates and head coach have nothing but good things to say about him, and are confident the 29-year-old will eventually find his groove in the team’s read-and-react offense. “There is a fine balance between him just fitting in, which he is trying to do right now, and then him also just being himself, and knowing that the guys will be OK with that,” said coach David Adelman. “You know, it’s that way with Aaron and Jamal. They’ll play our way — cut, move and screen — but they will also get into their bag and go one-on-one, and that’s OK because they’re really talented players. I think Cam will get there once he has more experience with these guys.”

Rory Maher contributed to this post.

Tom Dundon Signs Agreement To Buy Trail Blazers

September 12th, 2025 at 1:43pm CST by Luke Adams

Nearly a month after reaching a tentative deal to buy the Trail Blazers, prospective owner Tom Dundon has formally signed a purchase agreement, according to reports from Bill Oram of The Oregonian and Eben Novy-Williams of Sportico.

Oram adds that the sale, which still requires NBA approval, is expected to formally close before the end of the 2025/26 season. A prior report indicated that a target date of March 31 had been set.

Blue Owl Capital co-president Marc Zahr and co-CEO of Collective Global Sheel Tyle are among the other investors who are part of Dundon’s group, which intends to keep the team in Portland. A statement on Friday indicated that the Cherng Family Trust – the family trust of Panda Express co-founders Andrew Cherng and Peggy Tsiang Cherng – has signed on as an investor as well.

As Sportico reported in August, Dundon’s group is expected to submit two separate payments as part of its purchase — one when the sale closes and one at a later date. The “blended” valuation of the franchise via those two payments will reportedly be about $4.25 billion.

According to Oram, Dundon and his group beat out a bid from RAJ Sports and the Bhathal family, which controls the Portland Thorns in the NWSL and the Portland Fire, the WNBA expansion team that will make its debut next season.

The Trail Blazers announced their plans to sell the franchise back in May. Paul Allen, the longtime Blazers owner who purchased the franchise for $70MM in 1988, passed away on October 15, 2018, resulting in control of the team being transferred to his sister Jody Allen, the trustee and executor of his estate.

The plan following Paul Allen’s death was for ownership of the Blazers to eventually change hands as part of an estate sale, which is the process that’s playing out now. All estate proceeds as a result of the Blazers sale will be directed toward philanthropy, per the late Allen’s wishes.

Tom Dundon Reaches Tentative Deal To Buy Trail Blazers

August 13th, 2025 at 2:15pm CST by Luke Adams

2:15 pm: In an updated version of their Sportico report, Soshnick and Novy-Williams says the Blazers’ sale will include two separate payments — one at the closing of the sale and one at a later date. The “blended” valuation of the two payments will be roughly $4.25 billion, sources tell Sportico.

11:18 am: The Blazers will be valued at more than $4 billion in the sale, reports Shams Charania of ESPN (Twitter link).

11:01 am: A group led by billionaire Tom Dundon, the owner of the NHL’s Carolina Hurricanes, has reached a tentative agreement to buy the Trail Blazers from Paul Allen‘s estate, sources tell Scott Soshnick and Eben Novy-Williams of Sportico.

Blue Owl Capital co-president Marc Zahr and co-CEO of Collective Global Sheel Tyle are among the other investors who are part of Dundon’s group, according to Soshnick and Novy-Williams, who say the buyers intend to keep the team in Portland.

The Trail Blazers announced their plans to sell the franchise back in May. Allen, the longtime Blazers owner who purchased the franchise for $70MM in 1988, passed away on October 15, 2018, resulting in control of the team being transferred to his sister Jody Allen, the trustee and executor of his estate.

The plan following Paul Allen’s death was for ownership of the Blazers to eventually change hands as part of an estate sale, which is the process that’s playing out now. The investment bank Allen & Co. (no relation) and the law firm Hogan Lovells were selected to lead the sale of the team.

As Soshnick and Novy-Williams note, while the valuation of the Blazers in this tentative deal isn’t yet known, a trust generally has a fiduciary duty in an estate sale to maximize the value of its assets and to sell to the highest qualified bidder.

When Sportico last updated its NBA franchise valuations in December 2024, the site estimated the Blazers’ worth to be $3.6 billion. New owners have agreed to buy the Celtics ($6.1 billion valuation) and Lakers ($10 billion valuation) since then.

All estate proceeds as a result of the Blazers sale will be directed toward philanthropy, per the late Allen’s wishes.

In addition to owning the NHL’s Hurricanes, Dundon has invested heavily in pickleball — he’s the majority owner of the PPA Tour and Major League Pickleball. Dundon, who is also the chairman and managing partner of the Dallas-based investment firm Dundon Capital Partners, will serve as the Blazers’ new governor if and when the sale is officially approved by the NBA, per Sportico’s report.