Portland Trail Blazers Change Owner: $4.25 billion deal attracts attention from many parties

On September 13, a major sports business news shocked the basketball world - Paul Allen's estate management formally announced that it had reached an agreement with a consortium headed by Carolina Hurricanes owner Tom Dungton to sell the Portland Trail Blazers to the consortium. According to people familiar with the matter, the Trail Blazers are valued at $4.25 billion and are expected to complete delivery before the end of the NBA this season. It is worth mentioning that because Chinese player Yang Hansen plays for the Trail Blazers, this deal has also attracted the attention of domestic fans.

Dunton's consortium is strong, including Mark Zal, co-president of Blue Owl Capital, and Hill Tyre, CEO of Collective Global, which lives in the Portland area. In the statement of the estate management party, the proposed ownership consortium, the new Cheng Family Trust, is even more eye-catching. Chinese-American couple Cheng Zhengchang and Jiang Peiqi co-founded the well-known Panda Express. Forbes data shows that the family's net assets reached US$7.5 billion, becoming the richest investor in the Dundon consortium.

Although the proportion of shares held by each investor is not yet clear, to become the team's controlling party, Dundon needs to hold at least 15% of the shares. At a valuation of $4.25 billion, this shareholding is worth approximately $640 million. Of course, the deal still needs to be approved by the NBA board of directors before it can officially take effect.

Last month, the Dunton Consortium stood out in a fierce competition, beating a competitive consortium led by RAJ Sports and the Batal family to qualify for exclusive negotiations with Allen Heritage.

For the city of Portland, the first priority of the new boss after taking office is crucial. The 30-year-old Moda Center and the surrounding stagnant Rose District are in urgent need of brand new planning. In July this year, NBA president Adam Xiao Hua also said that Portland "maybe need a new stadium", which makes it urgent to promote the massive renovation or new stadium. The stadium program plays a key role in ensuring that the Trail Blazers remain in Portland for a long time, and the Allen Legacy Management also specifically mentioned in the statement that the new ownership consortium "has clearly promised to keep the team in Portland."

The team's sale this time is of far-reaching significance to the future development of the Trail Blazers. The new consortium may bring new management concepts and capital investment, which is expected to enhance the team's competitiveness in the NBA. From a business perspective, the addition of new investors such as the Cheng family may inject more diversified business elements into the team and expand the team's business territory. For Yang Hansen, who is concerned by domestic fans, the team's change of ownership may have a certain impact on his development in the team. Whether the new management's strategic plan will pay more attention to cultivating young players is worth paying attention to. In short, this $4.25 billion deal will become an important turning point in the history of the Trail Blazers, and its subsequent development will undoubtedly become the focus of the basketball world and sports business.