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

Tom Dundon, owner of the NHL’s Carolina Hurricanes, confirmed Wednesday that he has agreed to buy the NBA’s Portland Trail Blazers.

Carolina Hurricanes owner Tom Dundon reportedly reached an agreement to buy the Portland Trail Blazers from the estate of deceased owner Paul Allen, Eben Novy-Williams of Sportico reported Wednesday. Dundon will reportedly pay over $4 billion for the franchise, per ESPN's Shams Charania.