Trail Blazers Work Out Deal For New Portland Arena

The Trail Blazers have agreed to a lease extension stay in their home arena through 2030.

Apr 12, 2024; Portland, Oregon, USA; Portland Trail Blazers mascot Blaze waves a flag before a game against the Houston Rockets at Moda Center. Mandatory Credit: Troy Wayrynen-USA TODAY Sports / Troy Wayrynen-USA TODAY Sports

The Portland Trail Blazers and the city of Portland took a proactive step to ensure the team’s long-term presence in the city by negotiating a "bridge" agreement that will extend their partnership with the Moda Center through 2030, according to a city of Portland breakdown of the new setup. Originally, the lease was set to expire in October 2025, but both parties have moved swiftly to secure the team’s future in Portland for the foreseeable future.

According to a fact sheet released by the city, the agreement solidifies the Trail Blazers' commitment to play in Portland until at least October 11, 2030. Additionally, the team will have the option to extend this commitment for another five years, through October 11, 2035. As part of the deal, ownership of the Moda Center will be transferred to the city of Portland for a symbolic $1, positioning the city to play a significant role in the upcoming renovation of the arena.

The Moda Center, which has not seen any major upgrades or renovations in nearly 30 years, is due for a revitalization as part of a broader effort to rejuvenate the Rose Quarter and surrounding areas. The planned renovations are aimed at ensuring that Portland remains a viable NBA market and keeps the Moda Center competitive with other arenas across the league.

This agreement is not just a victory for the Trail Blazers and their fans, but it also aligns with the city’s aspirations of attracting a WNBA team in the near future, especially with league expansion on the horizon. Portland’s officials, including City Commissioner Dan Ryan and Dewayne Hankins, president of business operations for the Portland Trail Blazers and Rip City Management, have expressed strong support for the agreement, recognizing it as a significant win for the city and the community.

“I’m an enthusiastic Trail Blazers fan and can’t imagine our city without the NBA team, so it was really important to get this moving along," Ryan said. "Today’s action is a pragmatic step that will help our Trail Blazers remain in their home, Portland.”

"In many ways the Rose Quarter and Lower Albina is Portland's front porch," said Dewayne Hankins, "Many people get their first impression of our Central City when they come into town for an event at the Moda Center."

This bridge agreement marks a critical step in securing the future of professional basketball in Portland, reflecting a shared commitment between the city and the team to invest in the area’s development and maintain the Moda Center as a premier sports venue.

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