Hurricanes owner Tom Dundon strikes tentative deal to buy the Portland Trail Blazers
The person spoke to the AP on condition of anonymity because the team hadn't yet made an official statement.
Dundon intends to keep the Trail Blazers in Portland, the person said. The group includes Sheel Tyle, the co-founder of the investment firm Collective Global.
The NBA Board of Governors must ratify any final purchase agreement. ESPN reported Wednesday that the deal was for $4 billion.
Allen's estate announced in May that it had begun the process of selling the Trail Blazers.
Allen, the billionaire co-founder of Microsoft, died in 2018 at age 65 from complications of non-Hodgkin lymphoma. Since then, his sister, Jody Allen, has served as chair of the Trail Blazers and the NFL's Seattle Seahawks and is a trustee of the Paul G. Allen Trust.
___
AP NBA: https://apnews.com/hub/NBA
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
an hour ago
- Yahoo
SoftBank Bets $2 billion on Intel as U.S. Eyes 10% Stake
Intel (NASDAQ:INTC) popped after SoftBank (SFTBY) agreed to pour $2 billion into the chipmaker. The Japanese firm is buying shares at $23 apiece, giving it just under a 2% stake, according to LSEG data. That makes SoftBank Intel's sixth-largest investor, though it won't be angling for a board seat or locking in chip purchases. Instead, it's a straightforward bet on Intel's future. We are very pleased to deepen our relationship with SoftBank, Intel CEO Lip-Bu Tan said, adding the two companies share a commitment to U.S. tech leadership. SoftBank founder Masayoshi Son called it a vote of confidence in America's expanding semiconductor manufacturing, with Intel at the center of it. Warning! GuruFocus has detected 10 Warning Signs with INTC. The timing is striking. Bloomberg reported earlier in the day that Washington is in talks to take a 10% stake in Intel itself. For investors, that one-two punch SoftBank stepping in now and the U.S. government potentially following shows just how critical Intel has become in the global chip race. This article first appeared on GuruFocus. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
an hour ago
- Yahoo
Braves claim Jake Fraley from Reds
You wanted more roster moves? You got more roster moves. A veteran of seven MLB campaigns at this point, Fraley hasn't really distinguished himself, with a combined 3.8 fWAR in 1,537 career PAs (1.5/600). He's basically your generic 'great backup/poor regular' who might come with an extra year of arbitration-eligible team control (different sources show different things). Fraley avoided arbitration and signed a $3.125 million deal with the Reds this past offseason. He then proceeded to put up 0.4 fWAR in 193 PAs, which is pretty close to his career rate. He has a career 102 wRC+, which when combined with okay but undistinguished corner outfield defense, is what gets you to his below-average-regular status. At the plate, Fraley puts up his league-average batting line via walks and slapping at the ball; whatever the Braves are doing from a roster construction standpoint, they are certainly not wholeheartedly going back to The at least not immediately. No word yet on whose spot he'll take in the immediate future.
Yahoo
an hour ago
- Yahoo
Arm Ropes In Amazon AI Executive to Boost Chip Plans
Arm Holdings (NASDAQ:ARM) has tapped Amazon's (NASDAQ:AMZN) AI chip director Rami Sinno as it pushes deeper into designing its own chips, Reuters reported, citing a person familiar with the move. Sinno was a key architect behind Amazon's homegrown Trainium and Inferentia processors, built to train and run large-scale AI models. His hiring adds heavyweight experience to Arm's effort to go beyond licensing processor blueprints to other firms and build more complete silicon solutions itself. Warning! GuruFocus has detected 2 Warning Sign with ARM. Majority-owned by SoftBank (SFTBY), Arm already supplies the underlying architecture used in chips for Apple (NASDAQ:AAPL) iPhones and Nvidia (NASDAQ:NVDA) GPUs. But CEO Rene Haas said in July that the company is ramping up R&D to explore chiplets, subsystems, and potentially full chip designs. Sinno joins a growing roster of industry veterans Arm has pulled in for the push, including Nicolas Dube from HPE and Steve Halter, who previously worked at Intel (NASDAQ:INTC) and Qualcomm (NASDAQ:QCOM). For investors, the hires underline Arm's ambition to move up the value chain and capture more of the profits flowing from the AI hardware boom. This article first appeared on GuruFocus. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
