The Portland Trail Blazers franchise will be sold to a group led by Carolina Hurricanes owner Tom Dundon. 

The price of the sail is expected to exceed $4 billion, as Dundon will own his second professional sports team. 

Dundon admitted last month that he’s “very excited” about the sale. 

The Trail Blazers’ valuation is listed at $3.65 billion according to CNBC’s latest Official NBA Team Valuations.

Dundon purchased a stake in the Hurricanes in 2017 and became the team's majority owner in 2018, as the franchise has seen unparalleled success since his arrival.