The Portland Trail Blazers franchise will be sold to a group led by Carolina Hurricanes owner Tom Dundon.
The price of the sail is expected to exceed $4 billion, as Dundon will own his second professional sports team.
Dundon admitted last month that he’s “very excited” about the sale.
The Trail Blazers’ valuation is listed at $3.65 billion according to CNBC’s latest Official NBA Team Valuations.
Dundon purchased a stake in the Hurricanes in 2017 and became the team’s majority owner in 2018, as the franchise has seen unparalleled success since his arrival.
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