Portland Trail Blazers Owner Demands $575 M Public Funding for Arena Renovations

Portland Trail Blazers owner Tom Dundon is demanding a total of $575 million in public funding – $365 million already approved by the state and an additional $208 million from the city of Portland and Multnomah County – to sign a new 20‑year lease for the Moda Center. Dundon warned the team could consider relocation if the funding package is not secured.

The Portland City Council is set to review a draft term sheet that proposes a $3 million annual payment from the team, increasing 5 % each year, a non‑relocation commitment through at least 2047, labor‑harmony agreements, community‑benefit obligations and sustainability initiatives. The state’s $365 million commitment is contingent on $120 million from the city and $88 million from the county, with a vote on the final deal scheduled for August 12. County officials have debated using a rental‑car tax to cover their share, amid opposition from some residents.

The funding debate unfolds alongside Dundon’s broader cost‑cutting strategy, which has included layoffs of front‑office and broadcast staff since his acquisition of the team earlier this year.