The valuation is approximately $4.3 billion! Unveiling 53-year-old Dundon's acquisition of the Trail Blazers: Is the new ownership a boon for Yang Hanshen?

On August 14, Beijing time, 53-year-old billionaire financier Tom Dundon and a group of investors have reached an agreement to acquire the Portland Trail Blazers. Dundon is also the owner of the NHL's Carolina Hurricanes. This could be good news for Chinese player Yang Hanshen, who plays for the Trail Blazers.

Dundon has confirmed to The Athletic that he is leading a consortium to purchase the Trail Blazers. The consortium also includes Hill Taylor, co-CEO of Collective Global based in Portland, among others.According to NBA insider Sidery, this deal values the Trail Blazers at approximately $4.3 billion.

The Trail Blazers officially announced their sale in May, with the proceeds intended for charitable purposes. Since the deal has not yet been finalized, a spokesperson for the current owners, the Allen family, declined to comment. The Trail Blazers are part of Paul Allen's legacy. Paul Allen passed away from cancer in 2018, and his will stated that the team should be sold "at the appropriate time." During this period, Allen's sister, Jody Allen, has been serving as the team's governor and executor of the Paul Allen Trust.

The trust has stated that its ownership of the NFL's Seattle Seahawks will not be included in the sale, nor will the 25% stake in MLS's Seattle Sounders.

Over the past year, several significant developments prompted the trust to decide to sell the Trail Blazers. The NBA reached an 11-year new media rights agreement with ESPN, NBC, and Amazon, worth a total of $77 billion. In 2024, the Trail Blazers sold their home, the Moda Center, to the city of Portland for $1 and sold the land beneath the arena for $7 million. Subsequently, the team initiated a public-private partnership to renovate the arena and surrounding area, including a new lease extending to 2030.

A spokesperson for the Hurricanes stated that Dundon "is in the process of acquiring the Portland Trail Blazers and is excited about this opportunity." There have been concerns in Portland that the new owner might relocate the team. Sources told ESPN that Dundon intends to keep the team in Portland.

This deal still requires the approval of the NBA Board of Governors. If completed, the new owner will need to decide whether to undertake a major renovation of the decades-old Moda Center or to replace it entirely.

Nike founder Phil Knight publicly attempted to acquire the Trail Blazers in 2022, collaborating with Dodgers co-owner Alan Smolinski to make a bid exceeding $2 billion. However, the team declined to sell to them at that time.

In the three years since then, NBA team prices have skyrocketed. In 2023, the Phoenix Suns sold for a valuation of $4 billion, setting a record for NBA teams at that time. This spring, the majority owner of the Boston Celtics, Wyc Grousbeck, agreed to sell the team to a consortium led by Bill Cizik, with a preliminary valuation of $6.1 billion. This deal has already received board approval. Subsequently, the Buss family tentatively agreed to sell the Los Angeles Lakers to financier Mark Walter, valuing the Lakers at a record-breaking $10 billion.

The change in ownership may also have an impact on Chinese player Yang Hanshen. As a businessman optimistic about the Trail Blazers' future, Dundon surely understands the market value behind Yang Hanshen. Previous reports indicated that a series of moves by the Trail Blazers during the offseason (including selecting Yang Hanshen) were aimed at increasing the team's value to attract a new owner.

Yang Hanshen averaged 10.8 points, 5 rebounds, 3.8 assists, and 2.3 blocks per game in the summer league. It is reported that the Trail Blazers have recently made a substantial profit from merchandise related to Yang Hanshen. If he performs well in the upcoming season, he is likely to receive more playing time. There are already reports that he will become the team's second center, sharing the majority of the center position time with Klingen. This change in ownership could positively influence Yang Hanshen's development.