Estonian businessman Taavet Hinrikus is among the new owners of the NBA’s Portland Trail Blazers after a group of investors acquired a majority stake in a $4.25 billion deal.
Hinrikus invested in the team through his firm Skaala Investments, in which fellow Estonian businessman Sten Tamkivi holds a 3-percent stake, business paper Äripäev writes.
“Being among the owners of the Portland Trail Blazers is an important milestone and a huge honor for us,” Hinrikus said. “We have always invested where we see long-term value and strong teams — both in business and now in sports.”
The ownership group, Rip City Rising, is led by American businessman Tom Dundon and also includes several high-profile investors such as Panda Express co-founder and co-CEO Andrew Cherng and venture capitalist Sheel Tyle.
Read more: ERR.EE
