Field Gulls
One sale completed, one to go for Jody Allen.
Sportico reported on Wednesday that the NBA’s Portland Trail Blazers, officially put on the market just three months ago, will be sold to an ownership group led by American billionaire Tom Dundon. The team valuation is reportedly north of $4 billion, just a couple of bucks more than the $70 million the late Paul Allen purchased the Blazers for back in 1988.
Dundon is the sole owner of the NHL’s Carolina Hurricanes; he’s never owned any other major North American sports teams. One thing that has been a point of concern among Blazers fans is whether, much like the Seattle SuperSonics, the team will be subject to relocation.
According to Sportico, Dundon’s ownership group (which includes the Portland-based Collective Global CEO Sheel Tyle) intends to keep the Blazers in the Rose City. NBA commissioner Adam Silver recently said Portland likely needs a new arena to replace Moda Center, which is 30 years old and hasn’t undergone major renovations. I’m sure the “needs a new arena” line is a familiar story to some of you. Portland’s lease agreement with Moda Center was extended through 2030 and there are plans for renovation.
For now, the Blazers are still Portland’s team. Time will tell whether the intention to stay in Portland is genuine.
ESPN’s Shams Charania says the ownership group is looking into a public-private partnership for an arena deal.
This news is relevant to Seattle Seahawks fans because Jody Allen is the executor and trustee of her brother’s estate. She’s served as the Chair of both the Blazers and Seahawks since Paul’s death in 2018. Paul’s directive was to sell his sports holdings, which obviously includes the Seahawks, but the Blazers were always expected to be up for sale first. There is no deadline for this to materialize.
At the time the Blazers were put on the market, the team statement said, “This news does not affect the Seattle Seahawks NFL franchise or the estate’s 25% interest in the Seattle Sounders MLS, and neither is for sale.”
In a recent Sports Business Journal feature story on Jody Allen, which detailed her increased involvement in both organizations and provided a little more insight on her role in moving on from Pete Carroll, there’s a line from Seahwks and Blazers Vice Chair Bert Kolde about the Seahawks’ future.
Once the Blazers sale is done, Kolde hints, the Seahawks won’t be far behind. “This isn’t a forever story,” he says.
With the Blazers sale seemingly close to the finish line, the clock now starts on the Seahawks. What we do know is that the agreement to give the state of Washington a 10 percent cut of the gross sale price has expired as of May 2024, but anything else beyond that is unclear.
It should be noted that Jody will not pocket any of the proceedings; the money will...
