Tom Dundon, the latest billionaire to join the NBA’s board of governors, has purchased the Portland Trail Blazers alongside a group of investors from the heirs of Paul Allen. The deal closed at approximately $4.25 billion, far below recent valuations for franchises like the Lakers and Celtics, reflecting Portland’s smaller market status. Dundon, 54, built much of his fortune through a used-car sales business and subprime lending company that was later absorbed by Banco Santander. He also owns the Carolina Hurricanes of the NHL and has plans to replicate that model in Portland.
But his arrival has stirred resentment. The new owner has already signaled deep cuts in spending, despite telling local media he would be “aggressive” in his sports investments. According to a report by Jason Quick in *The Athletic*, Dundon bluntly stated: “In three or five years, people will be thrilled. But for the next twelve months, they’re going to hate me.” An anonymous league source added: “We know he doesn’t like Oregon and sees it as a state that can’t attract free agents. But with all due respect, you’re not helping the cause when you treat everyone there like garbage.”
The backlash escalated this April when the Blazers entered the play-in tournament. Among the controversial decisions: the team banned both the photographer and beat writer who cover the team for its official website from traveling to San Antonio for games against the Spurs. Players on two-way contracts were also left behind, as their deals don’t count for postseason eligibility. Once in San Antonio, the team’s masseuse was denied a hotel room to treat players before the game, and all team members were required to check out of the hotel by 12:30 p.m. to avoid extra charges. Back home, season-ticket holders won’t receive customized rally towels for the third and fourth games of the series. In a final odd touch, Dundon reportedly questioned why the franchise employs two mascots instead of one.
