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.

Paul Allen’s estate has agreed to a tentative agreement to sell the Portland Trail Blazers to a group led by Carolina Hurricanes owner Tom Dundon.

The sale price remains unclear, but Dundon's group includes Portland CEO Sheel Tyle and the collective intends to keep the team in Portland.