Inside the Potential New Era of the Trail Blazers: What Tom Dundon's Track Record Tells Us
The Portland Trail Blazers could be heading into a pivotal chapter in franchise history - and not just on the court. A bill has landed in front of Oregon lawmakers that would fund a sweeping renovation of the Moda Center, a move aimed at keeping the team rooted in Portland.
The timing isn’t coincidental. With a change in ownership on the horizon, city and state leaders are hustling to ensure the Blazers’ long-term future stays local.
At the center of it all is Tom Dundon, the Texas businessman poised to take over the franchise. Though he’s remained tight-lipped with local media - opting to wait until the sale is finalized - his track record in sports ownership and business offers a window into what Portland fans might expect.
Let’s break down what we know about Dundon, how he operates, and what it could mean for Rip City.
From Subprime Loans to Billionaire Status
Dundon’s path to wealth wasn’t exactly smooth or universally celebrated. He made his fortune in the subprime auto lending world - co-founding Drive Financial, which eventually became Santander Consumer USA. Under his leadership, the company faced scrutiny from multiple state regulators, including Oregon, over allegations of predatory lending practices.
Things escalated when the U.S. Department of Justice and the SEC launched investigations.
In 2015, the company settled a case involving the improper repossession of military members’ vehicles for $9 million. Dundon left the company that same year with a reported $700 million separation agreement.
The legal troubles didn’t end there - in 2020, Santander reached a $550 million settlement with 34 states, including Oregon, though the company didn’t admit wrongdoing.
That history is part of the package with Dundon. He’s a hard-nosed businessman who’s operated in controversial spaces - and walked away with massive financial gains.
Turning Around the Hurricanes: A Blueprint for Portland?
If there’s a reason for Blazers fans to be optimistic, it’s what Dundon has already done in the NHL. When he bought the Carolina Hurricanes, the franchise was floundering. Nine straight years without a playoff appearance, low payrolls, a disengaged fan base, and relocation rumors hanging over the team like a storm cloud.
Dundon flipped the script.
He poured money into the roster - the Hurricanes now rank among the NHL’s top six in payroll - and built out a cutting-edge analytics department. The result? Eight straight playoff appearances, 10 series wins, and a team that’s consistently in the Stanley Cup conversation.
That kind of turnaround doesn’t happen by accident. It’s the product of investment, vision, and a willingness to challenge the status quo. If he brings that same energy to Portland, the Blazers could be in for a serious reset - one focused on winning, not just surviving.
Negotiating Like a Prizefighter
Talk to anyone who’s been across the table from Dundon, and one thing becomes clear: he doesn’t play soft.
During negotiations in Raleigh for the Hurricanes’ arena renovation and lease extension, things got heated - and stayed that way. Philip Isley, who led the talks on behalf of the local government, described the process as “complicated as hell.”
There was yelling. There was swearing.
But there was also progress.
In the end, Dundon secured a 20-year lease extension, $300 million in public financing, and the rights to develop an $800 million mixed-use project around the arena. Isley may have clashed with Dundon, but he also said this: “He never lied to me.”
That matters. Dundon is demanding, intense, and relentless - but he’s also direct.
If he’s coming to Portland, expect tough negotiations and big asks. But also expect follow-through.
Unconventional and Unapologetic
Dundon doesn’t always make popular decisions - and he doesn’t seem to mind.
In Carolina, he slashed the salaries of two beloved broadcasters - asking one to take an 80% pay cut and the other 83%. Both walked away. Fans weren’t thrilled, and the moves fed into a perception that Dundon was cheap.
But then he did something that resonated: he lowered beer prices at the arena. And more importantly, he kept investing in the product on the ice. His philosophy was simple: “Put all the money on the ice.”
That kind of cost-cutting-meets-investment approach might ruffle feathers, but it’s consistent with Dundon’s style. He’s hands-on.
He’s strategic. And he’s not afraid to make tough calls if he believes they’ll lead to wins.
For the Blazers, that could mean a shift in how the organization operates - with an emphasis on performance over sentiment.
Winning Is the Only Goal
At his core, Dundon is wired to compete. That’s not just a business mindset - it’s a lifelong obsession.
Back in college, he was known for assembling stacked intramural teams just to win. Friends describe him as someone who doesn’t care about prestige or public image.
He wants to win. Period.
That mentality has carried over into his ownership style. One of his most telling quotes came during his time with the Hurricanes:
“Our job is to find players better than you, and it’s your job to make that hard.”
That’s not just a quote - it’s a culture. It’s about pushing everyone in the organization to be better, to fight for their spot, and to never settle. If Dundon brings that same mindset to Portland, the Trail Blazers could be in for a cultural overhaul, one where complacency isn’t tolerated and expectations are sky-high.
What It All Means for Portland
With ownership in transition and the Moda Center in need of a serious facelift, the Trail Blazers are at a crossroads. The proposed arena renovation is more than just a facelift - it’s a statement about the city’s commitment to keeping the team in Portland.
Dundon, for his part, has shown he’s not afraid to ask for public investment - and he’s proven he can deliver results when he gets it. He’s intense, results-driven, and unafraid to make unpopular decisions if he believes they’ll lead to wins.
For Blazers fans, the message is clear: if this sale goes through and the renovation plan follows, Portland might not just be keeping its team - it could be getting a whole new identity. One built around competition, innovation, and a relentless drive to win.
The question now isn’t whether Dundon can transform a franchise. He’s already done that. The question is: will Portland let him do it again?