Yesterday the NBA Board of Governors unanimously approved the sale of the Portland Trail Blazers to a coalition led by Dallas, Texas businessman Tom Dundon. Transfer of the franchise became official today.
On this inaugural day, Dundon offered a message to Trail Blazers fans via press release on the team’s official website. Here is his quote:
Today is the beginning of a new chapter for the Portland Trail Blazers, as we build on the legacy of this storied franchise. On behalf of our ownership group, my commitment to this tremendous fan base is that we are going to be relentless towards building a team that can compete at the highest level, every single season.
The new ownership group has adopted the name “Rip City Rising”. The press release detailed the membership:
Dundon will serve as Governor alongside Marc Zahr, Stan Middleman, Andrew Cherng, and Sheel Tyle who will serve as Alternate Governors. The multi-family ownership group includes the Dundon, Zahr, Middleman, Cherng, and Tyle families along with Richard Chaifetz, Marc Grandisson, Nayel Nassar and Jennifer Gates, Taavet Hinrikus, and Dan Zilberman. Together, the ownership group brings deep business expertise, long-term perspective, and a shared passion for basketball, with a focus on building a perennial winner, elevating the fan experience, and positioning the organization for enduring success.
The Trail Blazers’ current season is winding to a close. After the team participates in any postseason activity—including the annual NBA Play-In Tournament and perhaps the 2026 NBA Playoffs—over the next few weeks, Dundon and company will have a chance to make their first marks on the franchise. Stay tuned.
