ESPN's Shams Charania reported Wednesday that Tom Dundon, who is the owner of the NHL's Carolina Hurricanes, is part of a group that agreed to purchase the Trail Blazers from Paul Allen's estate at a valuation of more than $4 billion.

Dundon confirmed the sale while declining to comment on the exact transaction value, saying he was “ very excited .” The estate of billionaire Paul Allen announced the Blazers were formally up for sale in May,

One of the NHL's more prominent owners has agreed to purchase the Western Conference NBA team in a move that could shake up the franchise.