Oregon report finds most NBA arena renovations rely on private funding, sparking debate over Moda Center deal

A 15-page report commissioned by the state examined arena renovation agreements in all 30 NBA markets and identified six cities—Cleveland, Milwaukee, Minneapolis, Orlando, Indianapolis and Memphis—as the most comparable to Portland. Four of those projects featured private contributions ranging from 18% to 62% of total costs, while others secured annual rent payments or a share of naming-rights and corporate-suite revenues to offset public spending. Only Memphis and Orlando relied entirely on public funding, with Orlando’s $225 million investment offset by rent, naming-rights revenue and a share of non-NBA event income.

The Trail Blazers, through their management firm Rip City Management, have proposed a $600 million renovation of the Moda Center that does not include comparable private investment. The team’s internal documents list different benchmark cities—Salt Lake City, Memphis, Charlotte, Oklahoma City, Indianapolis, San Antonio and Washington, D.C.—some of which had no direct private funding but did receive other concessions such as rent payments or development investments.

“As the lead negotiator for the public sector in both Sacramento and Milwaukee, I can say that the market has clearly changed, and these comparables are dated,” wrote Dan Barrett, the team’s consultant, in response to a city request to consider those markets as benchmarks.

“We’re going to negotiate and do a market deal, and they should do a deal — the people that represent the city and the county and your tax dollars — are going to do a deal that’s great for them I hope,” Trail Blazers owner Tom Dundon said at a news conference in April.

Portland City Council members have expressed concern over the lack of private investment. Councilor Candace Avalos said the absence of private funding would be a “red line” for her support. Other councilors are urging the team to contribute rent, share naming-rights revenue, or split proceeds from non-NBA events, as seen in other markets.

A Blazers spokesperson noted that the arena was originally built and maintained with $350 million in private money (equivalent to $730 million today) and that the team has already contributed over $160 million through ticket fees and parking revenue to the city’s spectator fund, which supports other venues.

The deal remains pending city council approval, with two additional public meetings scheduled in July before a possible August vote. State funding for the project is contingent on the city meeting its share of the costs, and negotiations are expected to conclude later this year.