Portland’s basketball future just took a sharp turn toward the unknown. For years, the Trail Blazers operated under the steady, legacy-driven hand of Paul Allen’s estate, a tenure marked by deep community ties and patient building. But whispers of change have swirled since the team hit the market in May, leaving fans anxious about who might steer the ship next.
It is only now that news about Tom Dundon owning the Portland Trail Blazers have started to emerge..
Tom Dundon’s acquisition of the Portland Trail Blazers represents one of the most significant NBA ownership transitions in recent years. The tentative agreement, announced on August 13, 2025, involves Dundon leading a consortium that includes Marc Zahr (co-president of Blue Owl Capital) and Sheel Tyle (co-CEO of Portland-based Collective Global).
What is Tom Dundon’s background in basketball and early life?
Tom Dundon, 54, wasn’t draining jumpers or drawing up plays before becoming the Blazers’ prospective owner. Born in New York but raised in Dallas, his journey started far from the hardwood. After earning an economics degree at Southern Methodist University in 1993, Dundon took an unexpected first step: running a burger joint called “Izzy’s” in Fort Worth. That entrepreneurial hustle quickly pivoted into finance, where he struck gold.
Dundon co-founded what became Santander Consumer USA, a major player in auto lending. Smart deals fueled its rise, leading to a massive $8.3 billion IPO in 2014. When he stepped down as CEO in 2015, his stake was worth nearly $1 billion. That cash fueled Dundon Capital Partners, his Dallas investment firm backing ventures from healthcare to tech. Sports ownership came later, proving he learns fast. His first big play? Snatching a majority stake in the NHL’s struggling Carolina Hurricanes in 2018 for $420 million.
(This is a developing story)
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