NBA’s new “Scrooge” is already stirring chaos in Portland

One of the NBA’s newest owners, now part of the league’s Board of Governors, is billionaire Tom Dundon. He has joined a group of investors in Portland Trail Blazers ownership, purchasing the franchise from the heirs of Paul Allen. His tenure has not started smoothly.

The sale was reportedly valued at around $4.25 billion, a figure well below recent deals involving teams like the Los Angeles Lakers and Boston Celtics, though those operate in very different markets. Dundon, 54, built part of his fortune through used car sales and high-risk lending, a business that was eventually absorbed by Banco Santander. He also owns the Carolina Hurricanes in the NHL, a model he now appears ready to replicate in Portland.

And that’s where the concerns begin. The issue isn’t just how much Dundon plans to invest, but how much he plans to cut. Despite promising an “aggressive” approach on the court during his introductory press conference, his early financial decisions have raised doubts about that commitment. In April alone, he has already begun reshaping the franchise’s internal spending, and not subtly.

“Within three to five years, people will be thrilled. But over the next 12 months, they’re going to hate me,” Dundon said in an interview with Jason Quick for The Athletic.

An anonymous league source pushed back sharply:

“We know he doesn’t like Oregon and doesn’t think it attracts free agents. But with all due respect, you’re not helping when you treat everyone there like crap.”

Cuts and controversy

Dundon has wasted little time making changes, and many have been controversial. According to local reports, several cost-cutting measures have already impacted team operations. For a road trip to face the San Antonio Spurs, both the team photographer and website reporter were not allowed to travel. Two-way contract players were also left behind, as they are ineligible for the playoffs anyway. The team masseur was denied a hotel room to perform routine pregame treatment. And staff were required to check out of the hotel by 12:30 p.m. to avoid extra charges.

At home, fans will also feel the shift. Unlike standard playoff traditions across the league, there will be no personalized T-shirts for attendees in Games 3 and 4. And in a smaller but telling detail, Dundon has even questioned why the Blazers have two mascots instead of one, suggesting another potential cut.

A stark contrast to the past

Word is already spreading, and not in a good way. In Portland, expectations were shaped by the ownership style of Paul Allen, who was known for generosity: above-market contracts, private jet travel, and a player-first environment.

That era is over. Dundon, a New York native, represents a very different philosophy. The coaching situation highlights the shift. Dundon has reportedly indicated he doesn’t want to pay more than $1–1.5 million annually for a head coach, well below league norms. Chauncey Billups is awaiting resolution after legal issues, while Tiago Splitter has stepped up internally but without strong guarantees for the future.

Dundon’s top target was Mike Malone, who led the Denver Nuggets to a title, but money proved decisive. Malone turned down Portland’s offer (around $4 million annually) and instead accepted $7.5 million to coach in North Carolina at the college level. Splitter now finds himself in a difficult position despite solid work with a young roster.

Meanwhile, Dundon is reportedly considering more than 20 coaching candidates, including both NBA veterans and college options. Even Splitter may not stay, with teams like the New Orleans Pelicans and Chicago Bulls potentially interested.

The “Scrooge” label

The comparisons are already forming. Dundon is being likened to Scrooge McDuck, obsessed with saving and stockpiling wealth, even at the expense of relationships. It’s a striking image for one of the newest power brokers in a league defined by massive spending.

Financially, Dundon and his group are far from the NBA’s richest owners. Portland once belonged closer to that tier under the Allen family, first with Paul, and later with his sister Jody and other heirs. They ranked among the ten wealthiest owners in the League, no small matter when you face bonus payouts or must shoulder fines for exceeding salary cap limits. Dundon arrives with a tighter grip on spending, and not the warmest reception.

The market may be smaller, but it’s established, with a proud history that includes the franchise’s 1977 championship led by Bill Walton. Now, a new era begins. Different times. Harsher times.

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