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Moda Center

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uuid000gzrr

Namestring
Moda Center
Legal namestring
Moda Center
Company typeenum
Private
Founded yearint
1995
Descriptiontext

Moda Center is a 20,500-capacity multipurpose indoor arena in Portland, Oregon, that serves as the primary large-scale entertainment venue for the Portland metropolitan area. The venue hosts NBA Portland Trail Blazers home games, WNBA Portland Fire games, concerts, ice shows, rodeos, circuses, monster truck events, and conventions. Originally opened on October 12, 1995, following a ~$267 million construction project, the arena was renamed from the Rose Garden to the Moda Center in 2013 under a 10-year naming rights agreement with Moda Health. The asset is owned by the City of Portland and operated by Rip City Management, a sister company of the Portland Trail Blazers, with operational history also involving Anschutz Entertainment Group (AEG) and original development by Vulcan Sports and Entertainment.

The venue's core technology stack is centered on advanced audio-visual infrastructure: a professional-grade JBL sound system, a Mitsubishi HD video scoreboard with four of the largest screens in the NBA, 650 distributed television monitors, and a proprietary Acoustical Cloud System comprising 160 rotating 10-foot square panels that toggle between sound-absorbing and sound-reflecting modes to enable flexible acoustics. The arena also deployed OneCourt haptic displays — the first professional-sports-team implementation — to allow visually impaired or blind guests to feel in-game action through vibration and audio feedback. Multiple configurations are supported, including the intimate Theater of the Clouds setup seating approximately 6,500, alongside 70 Executive Suites, 8 Skyboxes with 1,540 permanent premium seats, and a Courtside Club.

Moda Center's business model is built on event-driven revenue: primary ticket sales via Ticketmaster, authorized resale through Ticket Squeeze, suite and skybox rentals (single-event or multi-year season contracts), concessions, and event-day parking at $10-$40. Public ticket pricing ranges from approximately $25 to $263 for sports and $38 to $166 for concerts, with capacity flexing from ~6,500 (Theater of the Clouds) to ~20,500 (full concert configuration). Customer segments span sports fans, music/concert enthusiasts, families, and corporate event organizers, with anchor revenue derived from the Trail Blazers franchise tenancy and a diversified concert-tour calendar.

Short descriptiontext

Moda Center is a 20,500-capacity multipurpose indoor arena in Portland, Oregon, owned by the City of Portland and operated by Rip City Management. It hosts NBA Portland Trail Blazers and WNBA Portland Fire games, concerts, and live entertainment events.

Operating statusenum
Operating
Ownership categoryenum
Headcount rangeband
1–10
akta.pro rankint
HeadquartersPortland, United States
HQ citystring
Portland
HQ countrystring
United States
HQ regionstring
North America
Markets served

Serves global market

Keyword5 values
indoor sports arena, live event venue, concert hosting, NBA arena, entertainment facility
Industry3 codes
1Arenas & Indoor Sports Centers
CodeMPAKAEABPrimaryYes
2Professional & Major League Stadiums
CodeMPAKAEAAPrimaryNo
3Sports Hospitality & Premium Experiences (VIP, Suites, Fan Zones)
CodeMPAGAMAJPrimaryNo
NAICS code3 codes
  • Spectator Sports7112
  • Promoters of Performing Arts, Sports, and Similar Events with Facilities71131
  • Performing Arts, Spectator Sports, and Related Industries711
SIC code1 code
  • Services-Amusement & Recreation Services7900
Product category
Multi-purpose Sports & Entertainment Arena
Social media profiles2 records
Marketing channels5 records

Each record includes

Title, Type, Stage, Description, Source

Distribution channels4 records

Each record includes

Title, Type, Scope, Target buyer, Description, Source

Cost components6 values
Personnel, Operations, Marketing or Sales, Infrastructure, Technology or R&D, Supply Chain
Pricing details4 tiers
1Concert Tickets
ModelUnit PricingBilling cadencePay-as-you-go
Notes

Prices range from approximately $38 (Hot Wheels Monster Trucks) to $166 (Tame Impala). Capacity varies from 13,000 to 19,000 for concerts.

modaportland.com
2Sports Tickets (Portland Fire WNBA)
ModelUnit PricingBilling cadencePay-as-you-go
Notes

Prices range from approximately $25 to $263 depending on opponent and seat location.

modaportland.com
3VIP/Suite Tickets
ModelUnit PricingBilling cadenceMulti-year contract
Notes

70 Executive Suites and 8 Skyboxes with 1,540 permanent seats. Includes dedicated attendants, access to Premium 365 Club Level, and inclusive catering packages. Suite rentals available for single events or full-season leases.

modaportland.com
4Parking
ModelUnit PricingBilling cadencePay-as-you-go
Notes

Parking passes typically $10-$40 depending on event and location. Suite tickets include parking in Garden Garage.

modaportland.com
GTM typeB2C
B2C
Offering typeServices
Services
Core offering1 text field

The Moda Center is a 20,500-capacity multipurpose indoor arena that hosts NBA basketball (Portland Trail Blazers), WNBA basketball (Portland Fire), concerts, ice shows, rodeos, circuses, monster truck events, and conventions. It offers primary and resale ticket sales, premium seating in 70 Executive Suites and 8 Skyboxes, a Courtside Club, and an intimate 6,500-seat Theater of the Clouds configuration, with state-of-the-art audio-visual and accessibility technology throughout the venue.

Differentiator
Functional benefit
Problem solved
Product overview1 text field

Moda Center is a premier multipurpose arena and entertainment venue in Portland, Oregon. Formerly known as the Rose Garden Arena, the venue operates as a single unified facility offering live event hosting services. The core offering centers on hosting sporting events (primarily as home to the NBA's Portland Trail Blazers), concerts, and special events, supported by ticket sales through primary (Ticketmaster) and resale (Ticket Squeeze) channels. Premium seating options include Executive Suites, Skyboxes, and Courtside Club experiences. The venue features specialized configurations like Theater of the Clouds for intimate performances and accessibility technology such as OneCourt haptic displays for inclusive guest experiences.

Product and service4 records
1Venue Event Hosting
CategoryLive Event Hosting
Description

Multipurpose indoor arena hosting NBA/WNBA basketball games, concerts, ice hockey, ice shows, circuses, rodeos, monster trucks, and conventions for fans, families, and event organizers in the Pacific Northwest.

2Ticket Sales and Resale
CategoryTicketing Services
Description

Comprehensive ticketing services for Moda Center events including primary ticket sales via Ticketmaster and the Rose Quarter Box Office, plus authenticated resale through the Ticket Squeeze marketplace with a 100% money-back guarantee.

3Premium Suites and Skyboxes
CategoryPremium Hospitality
Description

Luxury private experiences comprising 70 Executive Suites and 8 Skyboxes with dedicated attendants, access to the Premium 365 Club Level, inclusive catering packages, and capacity for parties up to 22 guests; available for single-event rental or full-season lease to corporate clients and premium guests.

4Courtside Club
Partnership3 partners
1Ticket Squeeze
Strategic tierCoreTypeChannel Partner/ Reseller/ Distributor
Description

Ticket Squeeze is the primary ticket resale partner for Moda Center, offering authenticated resale tickets with 100% money-back guarantee. They provide side-by-side seating options, last-minute downloadable tickets, and 5% discount through their mobile app. Rated 4.6/5 with 16,446 verified reviews.

modaportland.com
Strategic tierMinorTypeGTM or Marketing Partner
Description

Partner hotel booking platform recommended for visitors needing accommodations near Moda Center. Offers discounts on hotel bookings in the Portland area.

Strategic tierMinorTypeOthers
Description

Independent review platform providing customer satisfaction ratings and verified reviews for Ticket Squeeze ticket services.

Recent move6 records

Each record includes

Date, Type, Title, Description, Source

Expansion highlight4 records

Each record includes

Type, Description

Peers10 records
TypeDirect peer
Description

Multi-purpose indoor arena in Seattle, home to the NHL Seattle Kraken and host of NBA, concerts, and family shows — the closest regional competitor to Moda Center and the primary alternative venue for Pacific Northwest tour routing.

TypeDirect peer
Description

NBA Golden State Warriors' home arena and major concert venue in San Francisco; comparable modern arena with strong premium hospitality, premium ticketing, and tour bookability profile to Moda Center.

TypeDirect peer
Description

Home of the Los Angeles Lakers, Clippers, Kings, and Sparks — a multi-sport/multi-tenant NBA-anchor arena with extensive premium hospitality, the West Coast's highest-grossing venue and a direct competitor for tour routing.

TypeDirect peer
Description

Toronto home of the NBA Raptors and NHL Maple Leafs — a multi-tenant NBA/NHL arena with comparable premium suite/skybox infrastructure and a similar dual-anchor economic model to Moda Center.

TypeDirect peer
Description

Denver home of the NBA Nuggets and NHL Avalanche — comparable multi-tenant NBA-anchor arena with shared hosting across concerts, family shows, and basketball, similar suite and club-level premium positioning.

TypeDirect peer
Description

Atlanta home of the NBA Hawks — comparable NBA-anchor arena with extensive premium hospitality (suites, clubs), multi-event configurability and similar dependency on a single basketball anchor tenant.

TypeDirect peer
Description

Sacramento Kings' NBA home arena — directly comparable as a mid-market NBA-anchor arena with strong premium-seat emphasis and West Coast tour stop on similar metro-tier scale to Moda Center.

TypeBroad incumbent
Description

Iconic NYC home of the Knicks and Rangers and the global benchmark for arena economics; broader incumbent with a portfolio of teams and integrated venue/team operating model that benchmarks Moda Center's premium and ticketing strategies.

TypeDirect peer
Description

Cleveland home of the NBA Cavaliers and AHL Monsters — comparable NBA-anchor arena with a recent major renovation and similar mid-tier market economics and premium/hospitality mix.

10Vivint Arena
TypeDirect peer
Description

Salt Lake City home of the NBA Utah Jazz — directly comparable mid-market NBA-anchor arena with similar premium hospitality build-out and Pacific-adjacent tour routing profile to Moda Center.

Market position
Strengths5 records

Each record includes

Headline, Details, Source

Weaknesses5 records

Each record includes

Headline, Details, Source

Competitive moat4 records

Each record includes

Type, Details

Key risks6 records

Each record includes

Headline, Details, Source

Key highlights6 records

Each record includes

Headline, Details, Source

Customer concentration

Classification, Details

Segment4 records

Each record includes

Title, Type, Primary, Description, Pain point addressed, Use case, Source

Ideal customer profile2 records

Each record includes

Profile, Firmographic size, Sales motion, Sales cycle length, Buying structure, Purchase trigger, Buyer persona, Geography, Industry vertical, Primary use case, Description, Pain points, Evidence proof points, Target buyer

Technology focused
No
API detail
Has APIbool
No

Docs URL, Description

Integration4 records

Each record includes

Title, Type, Description, Source

AI maturity
App detail

Has app

Feature6 records

Each record includes

Title, Differentiator, Description, Source

Core technology
Revenue estimate
Valuation estimate
Number of profiles
No data
No data
Funding overview

Funding stage, Last funding date, Total funding USD

Funding rounds

Each record includes

Round, Amount USD, Date, Pre money valuation, Total investors, Investors, News

Investors

Each record includes

Name, Type, Date of entry, Rounds participated, Website

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Each record includes

Name, Acquisition type, Announced date, Completed date, Status, Website, News

Investment

Each record includes

Name, Round, Announced date, Lead investor, Website, News

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Moda Center

Multi-purpose Sports & Entertainment Arenamodaportland.com

Moda Center is a 20,500-capacity multipurpose indoor arena in Portland, Oregon, owned by the City of Portland and operated by Rip City Management. It hosts NBA Portland Trail Blazers and WNBA Portland Fire games, concerts, and live entertainment events.

What Moda Center does

Moda Center is a 20,500-capacity multipurpose indoor arena in Portland, Oregon, that serves as the primary large-scale entertainment venue for the Portland metropolitan area. The venue hosts NBA Portland Trail Blazers home games, WNBA Portland Fire games, concerts, ice shows, rodeos, circuses, monster truck events, and conventions. Originally opened on October 12, 1995, following a ~$267 million construction project, the arena was renamed from the Rose Garden to the Moda Center in 2013 under a 10-year naming rights agreement with Moda Health. The asset is owned by the City of Portland and operated by Rip City Management, a sister company of the Portland Trail Blazers, with operational history also involving Anschutz Entertainment Group (AEG) and original development by Vulcan Sports and Entertainment.

The venue's core technology stack is centered on advanced audio-visual infrastructure: a professional-grade JBL sound system, a Mitsubishi HD video scoreboard with four of the largest screens in the NBA, 650 distributed television monitors, and a proprietary Acoustical Cloud System comprising 160 rotating 10-foot square panels that toggle between sound-absorbing and sound-reflecting modes to enable flexible acoustics. The arena also deployed OneCourt haptic displays — the first professional-sports-team implementation — to allow visually impaired or blind guests to feel in-game action through vibration and audio feedback. Multiple configurations are supported, including the intimate Theater of the Clouds setup seating approximately 6,500, alongside 70 Executive Suites, 8 Skyboxes with 1,540 permanent premium seats, and a Courtside Club.

Moda Center's business model is built on event-driven revenue: primary ticket sales via Ticketmaster, authorized resale through Ticket Squeeze, suite and skybox rentals (single-event or multi-year season contracts), concessions, and event-day parking at $10-$40. Public ticket pricing ranges from approximately $25 to $263 for sports and $38 to $166 for concerts, with capacity flexing from ~6,500 (Theater of the Clouds) to ~20,500 (full concert configuration). Customer segments span sports fans, music/concert enthusiasts, families, and corporate event organizers, with anchor revenue derived from the Trail Blazers franchise tenancy and a diversified concert-tour calendar.

Moda Center firmographics

Firmographics
Name
Moda Center
Legal name
Moda Center
Website
https://modaportland.com
Company type
Private
Founded year
1995
Operating status
Operating
Headcount range
1–10 employees
Short description
Moda Center is a 20,500-capacity multipurpose indoor arena in Portland, Oregon, owned by the City of Portland and operated by Rip City Management. It hosts NBA Portland Trail Blazers and WNBA Portland Fire games, concerts, and live entertainment events.
Ownership category
akta.pro rank

Moda Center industry classification

Industry
Product category
Multi-purpose Sports & Entertainment Arena
NAICS
Spectator Sports (7112), Promoters of Performing Arts, Sports, and Similar Events with Facilities (71131), Performing Arts, Spectator Sports, and Related Industries (711)
SIC
Services-Amusement & Recreation Services (7900)
akta.pro primary industry
Arenas & Indoor Sports Centers (MPAKAEAB)
akta.pro secondary industries
Professional & Major League Stadiums (MPAKAEAA), Sports Hospitality & Premium Experiences (VIP, Suites, Fan Zones) (MPAGAMAJ)

Keywords

  • Indoor sports arena
  • Live event venue
  • Concert hosting
  • NBA arena
  • Entertainment facility

Where Moda Center is headquartered

Location

Headquarters

HQ city
Portland
HQ country
United States
HQ region
North America

Markets served

Moda Center business model

Business model
GTM type
B2C
Offering type
Services
Cost components
Personnel, Operations, Marketing or Sales, Infrastructure, Technology or R&D, Supply Chain

Pricing tiers

ModelBillingPrice
Unit PricingPay-as-you-goConcert Tickets
Unit PricingPay-as-you-goSports Tickets (Portland Fire WNBA)
Unit PricingMulti-year contractVIP/Suite Tickets
Unit PricingPay-as-you-goParking

Distribution channels4 records

Marketing channels5 records

Moda Center product offering

Product offering

Core offering

The Moda Center is a 20,500-capacity multipurpose indoor arena that hosts NBA basketball (Portland Trail Blazers), WNBA basketball (Portland Fire), concerts, ice shows, rodeos, circuses, monster truck events, and conventions. It offers primary and resale ticket sales, premium seating in 70 Executive Suites and 8 Skyboxes, a Courtside Club, and an intimate 6,500-seat Theater of the Clouds configuration, with state-of-the-art audio-visual and accessibility technology throughout the venue.

Product overview

Moda Center is a premier multipurpose arena and entertainment venue in Portland, Oregon. Formerly known as the Rose Garden Arena, the venue operates as a single unified facility offering live event hosting services. The core offering centers on hosting sporting events (primarily as home to the NBA's Portland Trail Blazers), concerts, and special events, supported by ticket sales through primary (Ticketmaster) and resale (Ticket Squeeze) channels. Premium seating options include Executive Suites, Skyboxes, and Courtside Club experiences. The venue features specialized configurations like Theater of the Clouds for intimate performances and accessibility technology such as OneCourt haptic displays for inclusive guest experiences.

Differentiator

Problem solved

Functional benefit

Products and services

  • Venue Event Hosting Multipurpose indoor arena hosting NBA/WNBA basketball games, concerts, ice hockey, ice shows, circuses, rodeos, monster trucks, and conventions for fans, families, and event organizers in the Pacific Northwest.
  • Ticket Sales and Resale Comprehensive ticketing services for Moda Center events including primary ticket sales via Ticketmaster and the Rose Quarter Box Office, plus authenticated resale through the Ticket Squeeze marketplace with a 100% money-back guarantee.
  • Premium Suites and Skyboxes Luxury private experiences comprising 70 Executive Suites and 8 Skyboxes with dedicated attendants, access to the Premium 365 Club Level, inclusive catering packages, and capacity for parties up to 22 guests; available for single-event rental or full-season lease to corporate clients and premium guests.
  • Courtside Club

Companies that use Moda Center

Customer profile

Segments4 records

Ideal customer profiles2 records

Moda Center technology and API

Technology

Technology focussed No

API detail

Has API
No
API docs
API detail

Core technology

AI maturity

App detail

Integration4 records

Feature6 records

Moda Center partnerships and signals

Strategic signal

Partnerships

Three partnerships are on record, tiered core and minor.

  • Ticket SqueezecoreChannel Partner/ Reseller/ DistributorTicket Squeeze is the primary ticket resale partner for Moda Center, offering authenticated resale tickets with 100% money-back guarantee. They provide side-by-side seating options, last-minute downloadable tickets, and 5% discount through their mobile app. Rated 4.6/5 with 16,446 verified reviews.
  • Booking.comminorGTM or Marketing PartnerPartner hotel booking platform recommended for visitors needing accommodations near Moda Center. Offers discounts on hotel bookings in the Portland area.
  • Shopper ApprovedminorOthersIndependent review platform providing customer satisfaction ratings and verified reviews for Ticket Squeeze ticket services.

Recent moves6 records

Expansion highlights4 records

Moda Center competitors and assessment

Company assessment

Direct peers

  • Climate Pledge Arena: Multi-purpose indoor arena in Seattle, home to the NHL Seattle Kraken and host of NBA, concerts, and family shows — the closest regional competitor to Moda Center and the primary alternative venue for Pacific Northwest tour routing.
  • Chase Center: NBA Golden State Warriors' home arena and major concert venue in San Francisco; comparable modern arena with strong premium hospitality, premium ticketing, and tour bookability profile to Moda Center.
  • Crypto.com Arena: Home of the Los Angeles Lakers, Clippers, Kings, and Sparks — a multi-sport/multi-tenant NBA-anchor arena with extensive premium hospitality, the West Coast's highest-grossing venue and a direct competitor for tour routing.
  • Scotiabank Arena: Toronto home of the NBA Raptors and NHL Maple Leafs — a multi-tenant NBA/NHL arena with comparable premium suite/skybox infrastructure and a similar dual-anchor economic model to Moda Center.
  • Ball Arena: Denver home of the NBA Nuggets and NHL Avalanche — comparable multi-tenant NBA-anchor arena with shared hosting across concerts, family shows, and basketball, similar suite and club-level premium positioning.
  • State Farm Arena: Atlanta home of the NBA Hawks — comparable NBA-anchor arena with extensive premium hospitality (suites, clubs), multi-event configurability and similar dependency on a single basketball anchor tenant.
  • Golden 1 Center: Sacramento Kings' NBA home arena — directly comparable as a mid-market NBA-anchor arena with strong premium-seat emphasis and West Coast tour stop on similar metro-tier scale to Moda Center.
  • Rocket Mortgage FieldHouse: Cleveland home of the NBA Cavaliers and AHL Monsters — comparable NBA-anchor arena with a recent major renovation and similar mid-tier market economics and premium/hospitality mix.
  • Vivint Arena: Salt Lake City home of the NBA Utah Jazz — directly comparable mid-market NBA-anchor arena with similar premium hospitality build-out and Pacific-adjacent tour routing profile to Moda Center.

Broad incumbents

  • Madison Square Garden: Iconic NYC home of the Knicks and Rangers and the global benchmark for arena economics; broader incumbent with a portfolio of teams and integrated venue/team operating model that benchmarks Moda Center's premium and ticketing strategies.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

Moda Center social profiles

Digital presence

Moda Center financial estimates

Financial estimate

Revenue estimate

Valuation estimate

Moda Center leadership team

Management profile

Number of profiles

Moda Center funding detail

Funding detail

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

Moda Center M&A and investment

M&A and investment

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Moda Center

What does Moda Center do?

The Moda Center is a 20,500-capacity multipurpose indoor arena that hosts NBA basketball (Portland Trail Blazers), WNBA basketball (Portland Fire), concerts, ice shows, rodeos, circuses, monster truck events, and conventions. It offers primary and resale ticket sales, premium seating in 70 Executive Suites and 8 Skyboxes, a Courtside Club, and an intimate 6,500-seat Theater of the Clouds configuration, with state-of-the-art audio-visual and accessibility technology throughout the venue.

Is Moda Center a public or private company?

Moda Center is a private company. It is classified as state government owned and is currently operating.

When was Moda Center founded?

Moda Center was founded in 1995. It employs 1 to 10 people.

Where is Moda Center based?

Moda Center is headquartered in Portland, United States, in the North America region.

Who are Moda Center's main competitors?

Direct peers on record are Climate Pledge Arena, Chase Center, Crypto.com Arena, Scotiabank Arena, Ball Arena, State Farm Arena, Golden 1 Center, Rocket Mortgage FieldHouse and Vivint Arena. Madison Square Garden is listed as a broad incumbent.

Does Moda Center have an API?

No public API is recorded for Moda Center.

What industry is Moda Center in?

Moda Center's product category is Multi-purpose Sports & Entertainment Arena. Its primary akta.pro industry code is MPAKAEAB, Arenas & Indoor Sports Centers, with a secondary code of MPAKAEAA, Professional & Major League Stadiums. Its NAICS code is 7112 and its SIC code is 7900.

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Live signals
YahooThe Neighbourhood, Doja Cat among acts performing in Portland through OctoberPortland's fall music calendar features acts like Sombr, The Neighbourhood, and Doja Cat performing at venues such as Moda Center and Hawthorne Theatre. The lineup includes Finn Wolfhard, Malcolm Todd, Julia Wolf, and Bryson Tiller, with dates from October 2 to 29.Yahoo'A very Portland way to protest': Cyclists circle Moda Center in anti-Moda spending demonstrationCyclists and activists circled Moda Center Saturday to protest Portland's $120 million renovation plan, citing cuts to essential services. The city has 90 days left to finalize the deal, while unions and teachers' groups oppose the spending.SiWhy Blazers' Relocation Chances Are Slim, If Not ZeroPortland Trail Blazers new owner Tom Dundon is in negotiations with local governments for a long-term lease at the Moda Center, raising concerns among fans about potential franchise relocation due to his reluctance to fund renovations. Despite these tensions, city, county, and state officials have agreed to term sheets for arena improvements, while NBA Commissioner Adam Silver and local leaders like Merritt Paulson strongly oppose any move. The NBA's planned expansion into Seattle and Las Vegas further reduces viable relocation options, suggesting the team will remain in Portland.YahooAfter Portland City Council approves Moda Center renovation money, will Tom Dundon sign new lease?The Portland City Council approved $120 million in funding for Moda Center renovations, contingent on the Trail Blazers signing a new lease through 2050 by year-end to unlock additional state funds. Negotiations between owner Tom Dundon and city officials are ongoing regarding key terms including rent, taxes, labor requirements, and security costs. A failure to reach an agreement could result in the loss of public funding and potential relocation of the franchise.Sports Business JournalPortland OKs funding for Moda Center renovation, opening door to lease negotiationsThe Portland City Council approved a term sheet pledging up to $120 million for the Moda Center renovation and an additional $275 million in maintenance over two decades to facilitate lease negotiations with the Trail Blazers. This financial commitment is contingent on concessions from the team's new ownership group led by Tom Dundon, who will be responsible for paying an annual rent of nearly $3.2 million. Formal lease negotiations are now set to begin, with a final agreement expected to be voted on by mid-December.YahooTrail Blazers' Moda Center Battle Takes Major Step After Crucial City VoteThe Portland City Council voted 8-4 to approve a term sheet outlining the city's opening position for negotiations with the Trail Blazers regarding a new long-term lease for the Moda Center. The proposal includes $120 million for arena renovations and ongoing maintenance costs, contingent on the team remaining in Portland for the agreement's duration. Negotiations are expected to conclude in early December, following previous commitments of public funding from state and county levels.SiBlazers' Arena Deal is All on Tom Dundon NowThe Portland City Council approved a term sheet dedicating up to $120 million toward the Moda Center renovation, shifting the final approval burden to new owner Tom Dundon and the Trail Blazers. Public funding is contingent on the franchise agreeing to specific financial obligations, including annual rent and property taxes, while capping their liability for any costs exceeding the $600 million total proposal. The deal requires the team to remain in Portland for 20 years, with a final vote scheduled for December 17.American City Business JournalsExperts doubt Portland’s ability to get fair Moda dealExperts are skeptical about the Portland city council's ability to negotiate a favorable deal for the Moda Center, with one economist comparing the approach to managing a romantic relationship. This skepticism follows recent approvals by the county for its share of renovation funding and pitches from other local entities like the Fire Department.American City Business JournalsPortland city council approves nonbinding term sheet for Moda renoThe Portland City Council voted 8-4 to approve a nonbinding term sheet providing up to $120 million in public funding for the renovation of the Moda Center. This decision, alongside a similar contribution from Multnomah County, serves as a prerequisite for state funding approved under SB 1501 to upgrade the arena owned by the Trail Blazers' ownership group. The approval initiates formal negotiations between the city and the team, with potential binding agreements expected later in the year.The New York TimesPortland approves Moda Center funds, but Trail Blazers lease battle loomsThe Portland City Council approved $120 million in public funding for Moda Center renovations, completing a multi-government financing package totaling over $573 million. This approval initiates a 4.5-month lease negotiation period between the city and the Trail Blazers, with a critical deadline of December 31 to secure state funds. The franchise and city remain at odds over financial contributions and maintenance obligations as they attempt to agree on a new long-term lease.