Canzano: Bert and Jody aren't leaving the Trail Blazers... yet
Paul Allen's estate is keeping 20 percent of the NBA team.
Trail Blazers fans are not getting rid of Bert Kolde.
Jody Allen isn’t going far, either.
Anyone else notice the peculiar seating arrangement at Moda Center on opening night? New Portland owner-to-be Tom Dundon and key investor Sheel Tyle were bookended in their baseline courtside seats by Kolde and Allen during Portland’s season-opening loss to Minnesota.
“You’d never in a million years see the new owners and old owners watching a game side-by-side,” a source told me at the time. “That doesn’t happen.”
I learned why.
The Paul G. Allen Estate is selling the Blazers to Dundon’s group for $4.25 billion. Under the terms of the purchase agreement, I’ve learned Allen’s estate will keep a 20 percent stake in the NBA team.
If the sale is approved by the league, Dundon becomes the “majority owner” despite owning a slightly smaller percentage of the team. He’ll represent the Portland franchise at league Board of Governors meetings.