The sale price remains unclear, but Dundon's group includes Portland CEO Sheel Tyle and the collective intends to keep the team in Portland.

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.

Tom Dundon, owner of the NHL's Hurricanes, has agreed to buy the NBA's Trail Blazers for more than $4 billion and keep the team in Portland, sources told ESPN.