Thomas Dundon
American businessman (born 1971)
From Wikipedia, the free encyclopedia
Thomas Dundon (born September 5, 1971) is an American businessman in financial services, real estate, and sports entertainment; he is chairman and managing partner of Dundon Capital Partners in Dallas, chairman of pickleball.com, and owner/CEO of the Carolina Hurricanes of the National Hockey League and the Portland Trail Blazers of the National Basketball Association.
Real Estate
Sports Entertainment
Chairman and managing partner of Dundon Capital Partners
Board Member of the Alliance of American Football
Investor in Topgolf Callaway Brands
Investor in pickleball.com
Thomas Dundon | |
|---|---|
| Born | September 5, 1971 New York City, U.S. |
| Alma mater | Southern Methodist University (B.S.) |
| Occupations | Financial Services Real Estate Sports Entertainment |
| Known for | Owner of the Carolina Hurricanes and Portland Trail Blazers Chairman and managing partner of Dundon Capital Partners Board Member of the Alliance of American Football Investor in Topgolf Callaway Brands Investor in pickleball.com |
He is closely associated with the collapse of the 2019 Alliance of American Football: after announcing a commitment of up to $250 million and taking control as a voting board member, he directed operations and funding but halted further financing within eight weeks, after which the league suspended play on April 2, 2019 and its entities entered Chapter 7 liquidation. In subsequent bankruptcy proceedings, the trustee alleged an oral $250 million commitment and cited Dundon’s public statements; Dundon testified that the $250 million figure was promotional rather than contractual, and court filings described his statements as inconsistent.
Early life and career
Dundon was raised in Atco, New Jersey; Houston, Texas; and Plano, Texas, where his family settled when he was 15 years old.[1] His father managed pizzerias, and his mother worked as a secretary.[1] He has an older brother.[1] Dundon graduated from Plano High School.[1]
For college, Dundon attended Southern Methodist University, served as president of Phi Gamma Delta, and earned a bachelor's degree in economics in 1993[1] After graduation, he operated a restaurant, Izzy's,[1] in Fort Worth, Texas, that closed within one year,[1] and worked for an automobile dealership in Irving, Texas.[2]
Business career
Dundon began his career working in financing at used car dealerships.[3]
In the 1990s, he co-founded the subprime lender Drive Financial Services, which offered high-interest loans to people with higher credit risk.[3] The company was acquired by the Spanish company Banco Santander in 2006, transforming Drive Financial Services into Santander Consumer USA.[3] The company has been sued by attorneys general in several states for predatory lending practices.[3] By the time he left in 2015, Dundon served as chairman and chief executive officer of the company. In 2020, Santander settled the lawsuit.[3]
After leaving Santander, Dundon started his own firm, Dundon Capital Partners, and bought a 33-story building in downtown Dallas.[4][5] Dundon's investments via the firm include Employer Direct Healthcare, a healthcare services company, Exeter Finance, an auto finance company, and Pacific Elm Properties, a Dallas-based real estate company. Also after leaving Santander, Dundon cofounded Trinity Forest Golf Club in Dallas.[6] Exeter Finance has been under investigation by attorneys general in multiple states over predatory lending practices, and has settled lawsuits in Massachusetts and Delaware.[3]
Sports investments
Carolina Hurricanes
In late 2017, Dundon became involved in purchasing the Carolina Hurricanes of the National Hockey League from owner Peter Karmanos Jr. who had owned the team since it was the Hartford Whalers.[7] Dundon became majority owner of the team on January 11, 2018, in a transaction where he purchased 52% of the team and the operating rights to PNC Arena for $420 million.[8]
On June 30, 2021, Dundon completed the purchase of all minority shares in the team, leaving him as the sole owner of the Hurricanes franchise.[9]
On March 5, 2026, Dundon finalized a sale of 12.5% of the Hurricanes to investors Brett Jefferson, Bobby Farnham, and Marc Grandisson at a $2.66 billion valuation.[10][11]
Alliance of American Football
On February 19, 2019, the Alliance of American Football announced a $250 million investment by Dundon and named him as a member of the board of directors.[12][13] The cash infusion is believed to have saved the league from a short-term financial crisis.[14][15] Reports noted that Dundon reserved the right to end his investment at any time.[16][17]
Dundon's first publicly visible move as a member of the board of directors, was to move the AAF's championship to the Ford Center at the Star in Frisco, Texas, after meeting with Dallas Cowboys owner Jerry Jones and negotiating the change in venue. The move was an effort to align the AAF with the NFL. While the game had originally been scheduled for Sam Boyd Stadium in Nevada and ticket refunds had to be issued, the AAF's local partners were reportedly "understanding" of the venue change.[18] Dundon later expressed concern for the future of the AAF if the National Football League Players Association was unable to share players. The NFLPA was reportedly reluctant to share players because of injury concerns.[19]
The AAF suspended operations on April 2, 2019.[20]
Pickleball
On December 27, 2021, Dundon's investment firm Dundon Capital Partners acquired Pickleball Central, the largest online pickleball retail site in the world. The acquisition also included Pickleball Central's affiliated PickleballTournaments.com software.[21]
On October 5, 2022, pickleball.com launched, citing an investment from Dundon.[22][23] The platform seeks to "bring together the data, content, and expertise" of the PPA Tour, the professional tour of pickleball, Pickleball Tournaments and Pickleball Brackets, the leaders in tournament and club software, TopCourt, a leader in online pickleball and tennis instruction, and Pickleball Central, the leading pickleball e-commerce platform.[24]
On November 9, 2022, Major League Pickleball announced a strategic merger with the PPA Tour's VIBE Pickleball League. "Coming together as one team league allows us to build much bigger events, offer more prize money, enhance player development, pursue larger media and sponsorship deals and, most importantly, grow the game we all love", Dundon said in a joint announcement with Major League Pickleball's Steve Kuhn.[25]
Portland Trail Blazers
On August 13, 2025, Dundon and a group of investors agreed to purchase the Portland Trail Blazers of the National Basketball Association from the estate of Paul G. Allen for approximately $4.2 billion.[26][27] On March 30, 2026, the NBA Board of Governors approved the sale for $4.25 billion.[28]