Hurricanes owner Tom Dundon leading group to buy Portland Trail Blazers

Driving the news: The Carolina Hurricanes confirmed that Dundon was in the process of buying the Trail Blazers on Wednesday.

• Reports indicate that the potential ownership group includes some Portland-area investors, and the goal is to keep the team in Oregon.
• Former owner of the Trail Blazers and Seattle Seahawks Paul Allen, the Microsoft cofounder who died in 2018, had in his will a stipulation that his teams be sold, according to Sportico, which first reported the Trail Blazers sale to Dundon.

What they're saying: Dundon is "excited about the opportunity" to acquire the Trail Blazers, a spokesperson for the Hurricanes told Axios.

• "This will not impact the Carolina Hurricanes, and Tom still wants to bring Major League Baseball to North Carolina," the spokesperson added.

Zoom in: Dundon has invested significantly in the Hurricanes since buying the team for $420 million in 2018, and his connections are shaping development across the region.

• He overhauled the Canes' front office and helped lead the team to seven-straight playoff appearances.
• Dundon and Dallas-based Pacific Elm Properties are investing $1 billion into turning Lenovo Center's parking lots into an entertainment and mixed-use destination.
• To land those investments from Dundon, however, Raleigh and Wake County committed hundreds of millions of dollars toward renovating Lenovo Center.
• Pacific Elm — which is part of Dundon Capital Partners, an investment firm Dundon founded — is now proposing an outdoor recreation center at Lake Crabtree Park, hinting at bringing an expansion of the U.S. Whitewater Center to Raleigh.