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, a person with knowledge of the negotiations told The Associated Press on Wednesday.

Carolina Hurricanes owner Tom Dundon reportedly reached an agreement to buy the Portland Trail Blazers from the estate of deceased owner Paul Allen, Eben Novy-Williams of Sportico reported Wednesday. Dundon will reportedly pay over $4 billion for the franchise, per ESPN's Shams Charania.