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.

Dundon confirmed the sale while declining to comment on the exact transaction value, saying he was “ very excited .” The estate of billionaire Paul Allen announced the Blazers were formally up for sale in May,