According to ESPN’s NBA insider Shams Charania, Dundon has agreed to buy the Trail Blazers from the estate of Paul G. Allen for a valuation of over $4 billion. The Trail Blazers’ valuation is listed at $3.65 billion according to CNBC’s latest Official NBA Team Valuations.

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