City of Portland, OR
05/08/2026 | News release | Distributed by Public on 05/08/2026 12:50
Moda Center Lease Agreement between the City of Portland and the Blazers
Label: News article
I know that a lot of people in my District don't feel like they're a part of the conversation about the Moda Center and the Trailblazers. And that's a problem for me, because I want to know what you think.
Published
May 8, 2026 11:06 am
In this article
On this page, you'll find a short video, a timeline showing where we are now in the lease negotiation and the conversation about renovations for the Moda Center - which we'll continue to update as things progress - and a survey where you can let me know what YOU think a good deal for Portland looks like in a lease agreement. What do we need to see for this to be a win for our community?
Because this is a negotiation, which means we ought to have asks on our end, too. My starting place is good jobs in the arena for Portlanders, neighborhood investments, a clear commitment from the Blazers to stay in Portland for the long haul - with consequences for breaking the lease early - and a commitment to sharing the arena with the many potential users of that space, both large traveling acts and local events. I'm excited to see what ideas you all have.
To get started...
Then...
Finally, read through this timeline below to stay up-to-date as things progress.
Timeline:
August 7, 2024 - With the end of the original lease approaching, the City of Portland and Rip City Management, under the former Commission government, enter into a "bridge agreement," wherein the City acquires the arena from the private owners, placing it under public ownership and initiating plans to secure long-term renovation funding.
December 19, 2024 - New Portland City Council is sworn in.
May 13, 2025 - The Allen estate (of the late Blazers' owner Paul Allen) announces plans to sell the Blazers.
August 13, 2025 - News breaks that a group led by Dallas billionaire Tom Dundon will purchase the Blazers.
February 9, 2026 - Oregon Senate President Rob Wagner introduces Senate Bill 1501. The legislation aims to establish the Oregon Arena Fund to facilitate renovations for the Moda Center, establishing joint ownership of Moda Center between the city and the state and allowing the state to contribute $365 million toward renovations through taxpayer-backed bonds.
February 12, 2026 - The Portland City Council and Mayor Keith Wilson actively urge the Oregon Legislature to pass SB 1501.
March 4, 2026 - The Oregon Senate passes SB 1501 in a 24-6 vote.
March 6, 2026 - The Oregon House passes SB 1501 in a 42-14 vote. The legislation heads to the governor's desk.
March 30, 2026 - The NBA Board of Governors approves the sale of the Portland Trail Blazers to an investor group led by Tom Dundon.
April 8, 2026 - Mayor Keith Wilson formally proposes a $120 million City contribution - totaling over $400 million in long-term investment - for Moda Center renovations, urging the City Council to consider this investment.
April 16, 2026 - Council meets with lease negotiation team. Council leadership asks Councilors to begin considering what issues they might want to see in a negotiation package.
April 27, 2026 - Governor Tina Kotek signs SB 1501, providing significant funding for the arena renovation, conditional upon local contributions from the City and Multnomah County.
Thank you for staying engaged! Let's upgrade our arena, keep this space as an active asset for our community, and get a good deal for Portland.
City of Portland, OR published this content on May 08, 2026, and is solely responsible for the information contained herein. Distributed via Public Technologies (PUBT), unedited and unaltered, on May 08, 2026 at 18:50 UTC. If you believe the information included in the content is inaccurate or outdated and requires editing or removal, please contact us at [email protected]