Blazers reportedly sold for $4 billion - is that a bargain?
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The Portland Trail Blazers were sold from the Paul G. Allen Trust to NHL owner, I believe, of the Carolina Hurricanes.
Tom Dundon for $4 billion, y'all, $4 billion.
And you're thinking like, man, that is a huge number for a team that needs a new arena, right?
Even though I love the Moda Center and I love the location.
I just love Portland as a whole.
Like, Portland is one of those sort of undiscovered gems on the NBA beat.
Like when I was a beat writer, Portland would be one of those places like, Man, I can't wait to get to Portland.
But just the crazy numbers, like we don't, we don't know so much about him.
He came from the venture capitalist world.
He owns the, uh, like I said, the Carolina Hurricanes.
He also owns Pickleball.com.
So clearly he's getting on the ground floor of a lot of different things.
Something tells me that if he's buying it for $4 billion, this might be worth a lot more.
I think a lot of the moves that they made probably helped increase that valuation a little bit, like bringing back Damian Lillard, you know, if you're trying to sell tickets, that's the way to do it.
You now have the Asian market with Young Hansen.
This is a good, I mean, it's a good team.
I think they're gonna be a lot better this year.
So, you know, for $4 billion, considering that the Celtics went for $6, seems like probably pretty decent value.
Um, Lakers went for $10, right?
Right.
So I mean, I think he kind of swooped in, Tom Dundon.
If he's a venture capital guy, obviously he's good with finances and money.
That could actually be a really good deal.
Um, shout out to the, to the Paul Allen Trust who bought the franchise for $70 million and flipped it for $4 billion.
That's a, that's a nice little W. Yeah, yeah.
I think that's all the owners who have were old money, like the old, old money.
Now it's a lot of new money.
So many teams have changed hands since the 2011 collective bargaining agreement, which lets you know how big of an investment the NBA is when the VCs are in it and are taking over.
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