Trail Blazers and City Have Negotiated Arena Lease
The city, county, and state have formed a $586 million framework for updates to the 31-year-old Moda Center.
Updated on Oct. 8, 2026 in Basketball
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Portland Trail Blazers ownership and city officials are working through lease terms for the Moda Center to ensure the team remains in the city. The ongoing negotiations follow a $586 million funding framework agreed upon by state, city, and Multnomah County leaders.
Why it matters
The future of the city's professional basketball home depends on resolving complex disputes over rent, tax obligations, and union labor requirements. Securing a deal is essential to keeping the franchise in Portland before the current lease expires in 2030.
Officials have established a $586 million framework to renovate the 31-year-old Moda Center. Terms regarding rent and taxes remain unresolved.
The players
Portland Trail Blazers
The professional basketball team currently playing at the Moda Center.
Tom Dundon
The owner of the Portland Trail Blazers.
Multnomah County
The local government entity participating in the arena funding framework.
The details
The Portland Trail Blazers and local government entities are currently negotiating the future of the Moda Center, which is now 31 years old. Public funding has been set aside for improvements, but the final contract depends on aligning positions on labor and financial obligations. The parties aim to reach a formal agreement before a deadline in December 2026 to avoid potential franchise relocation.
Timeline
December 2026 is the deadline to reach a lease agreement.
October 2030 marks the expiration of the current arena lease.
Beyond the Bridges
This negotiation follows the pattern of public-private investment frameworks established by the 2018 Oregon stadium funding statutes. It marks the latest effort to modernize local sports infrastructure through multi-agency fiscal commitments.
Residents should watch for updates regarding public funding allocations as the December 2026 deadline approaches. The resolution of these talks will determine the status of the city's primary arena for the next decade.
The takeaway
The city and the Trail Blazers are racing to finalize a lease agreement to keep the team in town. Residents should monitor upcoming City Council sessions for further progress reports on the funding framework.
Further reading
Learn more about the latest developments regarding Basketball in Portland.
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