India, Aug. 13 -- The Carolina Hurricanes owner Tom Dundon-led group has agreed on a deal to buy the Portland Trail Blazers for a whopping $4 billion, ESPN reported on Wednesday, citing sources. This comes months after Paul Allen's estate announced that it had begun the process of selling the NBA franchise. The team is yet to make an official announcement.

A person told the Associated Press that Dundon intends to keep the Trail Blazers in Portland. Now, the NBA Board of Governors will need to ratify the final purchase agreement.

Allen, co-founder of Microsoft, died in 2018 at age 65 from complications of non-Hodgkin lymphoma. Since then, his sister, Jody Allen, has served as chair of the Trail Blazers and the NFL's Seattle Seahawks and ...