Canzano: How you buy the Trail Blazers for $4.25 billion
The math on Tom Dundon's NBA purchase.
Some people were shocked at the recent news report that Tom Dundon was buying an NBA team.
“Is he putting them on layaway or what?” one concerned Trail Blazers fan asked.
Dundon’s net worth is estimated at $1.7 billion. He’s got cash tied up in the NHL’s Carolina Hurricanes and his other investments, but Dundon can borrow against those assets.
I’ve been told by those close to Dundon that his ultimate wish is to own an NFL team. It appears to me that he’s scaling toward that with this NBA purchase.
As one long-time NBA team president told me, “I’d love to have Dundon’s net worth, but he’s not Paul Allen. He doesn’t have the money to buy the Blazers by himself.”
The Blazers’ sales price: $4.25 billion.
Here’s how Dundon gets there…