Overview
- City Council is scheduled to vote on a nonbinding term sheet on Aug. 12 that would formally launch negotiations and signal a proposed $120 million city contribution to a roughly $573–600 million renovation package.
- Multnomah County approved its roughly $101 million portion this week, and the state has already authorized about $365 million in bonds that are contingent on local commitments and a completed lease.
- Negotiations remain deadlocked over whether the Blazers will put up private funds, who would legally cover construction cost overruns, and whether the team will accept labor and community-benefit requirements.
- Leaked internal Blazers emails show team leaders warned that answering the city’s written questions felt 'like a trap,' and the team separately urged fans to attend public testimony wearing Rip City gear.
- The NBA has assigned staff to mediate as the parties negotiate and the outcome will affect taxpayers, arena workers, local businesses and the franchise’s relocation risk given the December timeline to secure state bonding.