Portland’s basketball future just took a sharp turn toward the unknown. For years, the Trail Blazers operated under the steady, legacy-driven hand of Paul Allen’s estate, a tenure marked by deep community ties and patient building. But whispers of change have swirled since the team hit the market in May, leaving fans anxious about who might steer the ship next.

It is only now that news about Tom Dundon owning the Portland Trail Blazers have started to emerge..

Tom Dundon’s acquisition of the Portland Trail Blazers represents one of the most significant NBA ownership transitions in recent years. The tentative agreement, announced on August 13, 2025, involves Dundon leading a consortium that includes Marc Zahr (co-president of Blue Owl Capital) and Sheel Tyle (co-CEO of Portland-based Collective Global).

What is Tom Dundon’s background and career history?

Tom Dundon, 54, wasn’t draining jumpers or drawing up plays before becoming the Blazers’ prospective owner. Born in New York but raised in Dallas, his journey started far from the hardwood. After earning an economics degree at Southern Methodist University in 1993, Dundon took an unexpected first step: running a burger joint called “Izzy’s” in Fort Worth. That entrepreneurial hustle quickly pivoted into finance, where he struck gold.

Dundon co-founded what became Santander Consumer USA. A major player in auto lending. Smart deals fueled its rise. Leading to a massive $8.3 billion IPO in 2014. When he stepped down as CEO in 2015, his stake was worth nearly $1 billion. That cash fueled Dundon Capital Partners, his Dallas investment firm backing ventures from healthcare to tech.

Sports ownership came later. His first big play? Snatching a majority stake in the NHL’s struggling Carolina Hurricanes in 2018 for $420 million. He transformed them from basement dwellers to playoff regulars. Now he eyes basketball, armed with data and discipline.

What is Tom Dundon’s net worth and major business ventures?

Dundon’s wallet sits between $1.2 and $1.7 billion, built on ruthless efficiency. He owns 10% of Topgolf. Helped shape it into a millennial magnet before its boom. His pickleball empire? Total dominance- majority owner of the PPA Tour and Major League Pickleball after a $75 million merger. Even hockey exceeded expectations. His Hurricanes now top $1.2 billion after doubling in value.

Tom holds significant real estate including a 33 storey downtown Dallas tower once bought for about 131 million dollars. And he has also backed companies such as Employer Direct Healthcare and Exeter Finance. All of which, feed into his overall financial picture and his ability to lead a multibillion dollar purchase of an NBA franchise.

Dundon insists they’ll stay in Portland, easing relocation fears. Tim Dundon’s feels like a case of ‘value obsession’. As Hurricanes coach Rod Brind’Amour noted, “You name it, he’s involved in all of it”. Every dollar scrutinized, every edge chased. Expect that same intensity in Portland’s front office.

What do we know about Tom Dundon’s personal life and family?

Dundon wears sweatsuits to NHL meetings, avoids the spotlight, and calls himself a “family, stay-at-home guy.” Married 23 years to Veruschka, they’ve got five kids- Caden, Dax, Drew, Blake, and Tagan, ranging from ages 7 to 22. Home is a wild 13,000-square-foot Dallas estate with a go-kart track, batting cages, and a lake!

Reports suggest he stays active in philanthropy, through the Dundon Family Charitable Fund and projects tied to Southern Methodist University. Which signals where his personal priorities lie and why community work matters to him. He is described by people who know him as intensely private but hands on in business.

He funded Trinity Forest Golf Club to support youth services. As if proving wealth isn’t just trophies. When traveling for Hurricanes business, in Raleigh, he stays at the Umstead Hotel and Spa in Cary. Rather than maintaining a permanent residence. But Tom says, he is “likely establish a residence in the new development around the arena once it’s complete”. Portland should expect a low-key billionaire obsessed with winning.