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 is buying the NBA’s Portland Trail Blazers, he told CNBC in an interview. The Dallas businessman is chairman and founder of Dundon Capital Partners.

Thomas Dundon, the owner of the Carolina Hurricanes, has reached an agreement to purchase the NBA’s Portland Trail Blazers for more than $4 billion, according to ESPN’s Shams Charania. ESPN reports that Dundon intends to keep the team based in Portland,