C arolina Hurricanes owner Tom Dundon reached an agreement to purchase the Portland Trail Blazers, according to Sportico. In the potential transaction, Dundon buys the NBA franchise from previous owner Paul Allen's estate.

The Portland Trail Blazers will reportedly have a new ownership group. 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.