Blazers' future uncertain as arena funding questions mount
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Is Rip City really forever? Photo: Alika Jenner/Getty Images
Assurances that the Blazers would stay in Portland under new ownership are proving premature as questions mount over how to pay for a costly arena renovation.
Why it matters: Without roughly $600 million in upgrades to the Moda Center, the new owners could begin exploring an exit for Portland's only major professional sports team.
State of play: When the sale was announced, Portland leaders said they were committed to a "public/private partnership" to fund upgrades at Moda, which is among the most antiquated arenas in the NBA.
- State lawmakers are considering a bill that would dedicate $360 million in payroll taxes — from players and performers at Moda — toward a renovation.
- But the effort would also require cash from the city and county, and therein lies the rub.
Context: Portland would need to pony up roughly $185 million, per the Oregonian, and Mayor Keith Wilson has floated the idea of pulling up to $75 million from the city's clean energy fund, which was passed by voters to pay for environmental projects.
- The Blazers departing would be "disastrous," City Councilor Steve Novick told the Oregonian, "but I just don't see renovating the Moda Center as a reasonable use for the clean energy fund."
- The county is considering a package that would put $75 million toward the project.
Yes, but: Chris Dudley, a former center for the Blazers and current Republican gubernatorial candidate, said lawmakers should seek financial commitments from the new owners and a pledge to keep the team here before they sign off on funding.
"Doing this right and in the light of day is more important than doing this fast, behind closed doors," Dudley said in a statement.