According to ESPN’s NBA insider Shams Charania, Dundon has agreed to buy the Trail Blazers from the estate of Paul G. Allen for a valuation of over $4 billion. The Trail Blazers’ valuation is listed at $3.65 billion according to CNBC’s latest Official NBA Team Valuations.

Tom Dundon is buying the NBA’s Portland Trail Blazers, he told CNBC in an interview. The Dallas businessman is chairman and founder of Dundon Capital Partners. He ― along with a group of investors ― will reportedly buy the team at a valuation of around $4 billion.