The sale price remains unclear, but Dundon's group includes Portland CEO Sheel Tyle and the collective intends to keep the team in Portland.

ESPN's Shams Charania reported Wednesday that Tom Dundon, who is the owner of the NHL's Carolina Hurricanes, is part of a group that agreed to purchase the Trail Blazers from Paul Allen's estate at a valuation of more than $4 billion.

The owner of the NHL’s Carolina Hurricanes can now add the NBA’s Portland Trail Blazers to his portfolio. Tom Dundon agreed to purchase the Blazers from the estate of Paul G. Allen on Wednesday, according to multiple reports.