The Portland Trail Blazers are entering a bold new era as the NBA franchise changes hands, with investor Tom Dundon and St. Louis business leader Richard Chaifetz at the helm. The NBA Board of Governors approved the sale of controlling interest in the Trail Blazers to Dundon’s group on March 30, 2026—a deal reportedly worth as much as $4 billion, according to the Associated Press. The NBA expects the transaction to close this week, a move that’s already sending ripples through the league and energizing the Portland fanbase.
On March 31, the Chaifetz Group confirmed that Dr. Richard Chaifetz, its chairman and a noted philanthropist, joined Dundon in acquiring the Trail Blazers. While the financial details of Chaifetz’s stake remain undisclosed, his involvement is significant. Chaifetz will serve on the franchise’s board of directors and head the executive hiring committee, positioning him as a key decision-maker as the Blazers chart a new course.
"I’m thrilled to join Tom Dundon and our exceptional group of partners," Chaifetz shared in a news release. "The group’s commitment to basketball – and being the best on and off the court – will be second to none. I look forward to building on the great tradition of the Trail Blazers organization." That’s a bold promise, and one that Portland fans, hungry for a return to playoff relevance, will be eager to see fulfilled.
Chaifetz’s sports pedigree is nothing to sneeze at. A St. Louis University alumnus, he owns the St. Louis Shock of Major League Pickleball and holds an ownership interest in Major League Baseball’s San Francisco Giants. His business acumen and passion for competition are expected to complement Dundon’s reputation as a demanding and innovative sports owner.
Dundon, who also owns the NHL’s Carolina Hurricanes, brings a track record of success and high expectations. Since taking over the Hurricanes, the team has made the playoffs seven years in a row and reached the Eastern Conference finals three times. This season, Carolina sits tied for first in the East, underscoring Dundon’s knack for building winning organizations.
On April 1, 2026, Dundon’s first official day as owner, he wasted no time setting the tone. Meeting with Trail Blazers players inside the Intuit Dome before their matchup against the LA Clippers, Dundon delivered a message that was both appreciative and challenging. "Right now, where we are isn’t where I think we can be," Dundon told the team. He emphasized the need to raise standards, increase commitment, and intensify the pursuit of excellence. "Now, doing it and expecting to do it and every day getting better… that is not a debate with me. … It is going to happen. It always happens when I show up. And we’re gonna do it. I think they want it, too."
Dundon’s approach is rooted in both analytics and gut instinct. In an exclusive interview with The Athletic before tipoff, he explained his philosophy: "For me, it’s not a choice. It’s like, whatever we’re doing, we’re trying to do better, and you just keep going and going. I’m just obsessed with trying to find a way to get better. I can’t handle losing. I can’t handle thinking something could be done better." That relentless drive, he believes, will push the Blazers past old habits and into a new era of competitiveness.
The Trail Blazers have not reached the NBA playoffs since 2021. Attendance at the Moda Center has declined since the team launched a rebuild in 2022, leaving fans restless and eager for a turnaround. Dundon acknowledged the challenges but seemed unfazed by the pressure. "I think the organization the last couple years has been in a different place than they are now, where now it’s starting to build. Now we’ve got to get past those old habits that maybe weren’t as focused on the best outcome. So, pushing people past what they think is possible, and then doing it again and again and again. I don’t know, I just… I just do it."
Some Blazers employees have expressed unease, fearing that new ownership could mean sweeping changes. Dundon addressed those concerns head-on: "Everybody who’s not thinking like that every day — like, regardless if there’s new ownership, if you don’t wake up fighting for your job, fighting for your spot, then that mindset is probably not very good anyway. So if it takes this for people to think like that, then that’s fine. But I want people thinking about the future and not worrying about what I’m gonna do. They need to worry about what they’re gonna do. But I don’t like getting rid of people. I like to see who’s capable of taking that next step. So, I’m not looking to get rid of people. I’m looking to get better."
High-profile decisions loom, particularly regarding interim head coach Tiago Splitter and general manager Joe Cronin. Dundon, however, isn’t rushing into any moves. "I’d need to acquire information. It would be hard for me to have an opinion about anything other than the level of intensity that I want. I have expectations that are probably higher than most people are used to. And so I think that’s where I’m starting with, is getting through to everybody what I like, what my expectations are, and then you gotta see if people can match that. And that’ll tell you more than me just guessing who can or can’t."
One hot topic among fans and local officials is the future of the Trail Blazers in Portland. With the franchise seeking $600 million in public funding for Moda Center renovations, rumors have swirled about a possible relocation. Dundon was unequivocal: "We haven’t spent any time on that. (Team president) Dewayne (Hankins) and the team have spent all their time trying to figure out how to renovate Moda Center. Anything that people write or say, it’s just made up, because nobody has spent any time on that. I fully expect to get everything we’re working on done. That’s all we can really do is work on that."
The proposed arena deal includes a 20-year commitment to Portland. Dundon believes that’s a substantial pledge: "Twenty years? That’s a lot. Historically, other owners have committed years and put in money … In Portland?" He also suggested that the team’s long-term commitment is worth more than any financial contribution alone.
Fans can also expect improvements off the court. Dundon wants to enhance the game-day experience, from faster entry into the arena to better food options. "You should be able to notice, the team improves, and things get better. Hopefully, we’ll get people in and out of the arena faster. The food’s better. The experience is better. And when you go, we win more, and you can see the difference in the product and how we play."
With new leadership, a renewed commitment to excellence, and a focus on both on-court performance and fan experience, the Portland Trail Blazers are poised for transformation. While the franchise’s immediate future is still taking shape, one thing is clear: expectations are higher than ever, and the city of Portland is watching with anticipation as this new chapter unfolds.