Allen's estate enters formal agreement to sell Trail Blazers

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SharpesTriumph

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https://www.espn.com/nba/story/_/id/46237122/allen-estate-enters-formal-agreement-sell-trail-blazers

"
PORTLAND, Ore. -- Paul Allen's estate has formally reached an agreement to sell the Portland Trail Blazers to a group of investors led by Carolina Hurricanes owner Tom Dundon.

Dundon announced a tentative deal last month to buy the team and keep it in Portland. The Allen estate announced Friday that it had "entered a formal sales agreement" with the group. Terms were not disclosed.

Dundon's group includes Portland-based Sheel Tyle, the co-founder of investment firm Collective Global; Marc Zahr, co-president of Blue Owl Capital; and the Cherng Family Trust, the family office and investment firm of the co-founders of Panda Express.

The NBA Board of Governors has to ratify any final purchase agreement. ESPN previously reported the deal was for $4 billion. In March, the Boston Celtics sold for $6.1 billion.

The Blazers sale is expected to close by the end of this year.

Dundon, 53, bought a stake in the Hurricanes in 2017 and became the majority owner in 2018. He is chairman and managing partner of the Dallas-based firm Dundon Capital Partners.

Allen's estate announced in May that it had begun the process of selling the Trail Blazers. The billionaire co-founder of Microsoft, who died in 2018 at age 65 from complications of non-Hodgkin lymphoma, originally bought the Blazers in 1988 for $70 million.

Allen also owned the NFL's Seattle Seahawks and was a co-owner of Major League Soccer's Seattle Sounders.

Since his death, Allen's sister, Jody Allen, has served as chair of both the Blazers and Seahawks and is a trustee of the Paul G. Allen Trust. Paul Allen stipulated in his will the eventual sale of his teams, with the proceeds to be given to philanthropic endeavors.

The estate has not announced plans for the sale of the Seahawks or the 25% stake in the Sounders.
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Expected to close by the end of this year - so that means 2025 before the trade deadline. I had assumed it might take longer.
 
Ooh, can Panda Express maybe be the uniform sponsor?

OR how about this, if the team scores 100 points, the fans get free food from Panda Express!?!?
 
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Speaking of Pandas, did you know that the WWE changed from the WWF in 2002 due to legal battles with the World Wildlife Fund involving the WWF acronym?

430x550
 
Speaking of Pandas, did you know that the WWE changed from the WWF in 2002 due to legal battles with the World Wildlife Fund involving the WWF acronym?

430x550

Of course.

Its why before becoming WWE they had a campaign called "Get the F out" lol.
 
merge this thread with the thread we already have going that already had this news!!! WTF
 
merge this thread with the thread we already have going that already had this news!!! WTF
That thread was for reports of the initial handshake agreement. This thread was the Allen trust announcing an deal was signed.

I prefer more threads so they can pop up, grow, and then die. Otherwise every post here would just be part of the Melo thread.
 
That thread was for reports of the initial handshake agreement. This thread was the Allen trust announcing an deal was signed.

I prefer more threads so they can pop up, grow, and then die. Otherwise every post here would just be part of the Melo thread.
Never understood this mentality. Why have multiple threads on the same topic. You;ll see having to post the same thing in different threads. Pain in the ass. Why is it bad to have everything related to the topic in different places?
 
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