Overview
- Portland’s proposed share of up to $120 million for a roughly $600 million Moda Center renovation has not been approved by the city council, leaving the overall financing plan stalled.
- Trail Blazers majority owner Tom Dundon told a business gathering this week he will not put private capital into the project and said ticket taxes passed through the team count as its contribution.
- Mayor Keith Wilson has publicly urged the council to authorize the city’s funding portion and warned that failure to act could collapse the deal backed by state and county money.
- The state has conditionally committed up to about $365 million and Multnomah County about $88 million but the state funding requires a long-term lease extension reported as 20 years by a December 2026 deadline.
- If the package fails, city residents could lose planned arena upgrades and jobs and the stalled talks increase questions about the franchise’s future in Portland against a backdrop of large maintenance needs and recent ownership changes.