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sports20h ago
Trail Blazers, Kotek pitch lawmakers on public funds for Moda Center remodel
- Governor Tina Kotek said she has been in touch with incoming Trail Blazers owner Tom Dundon and stressed keeping the team in Portland.
- Senate Bill 1501 would redirect public dollars to a $600 million Moda Center project to support a long-term lease.
- Kotek said the proposal aims to modernize the arena and is in the ballpark of what the NBA considers a viable package.
- Portland officials aim to align a new long-term lease with public funding to renovate Moda Center.
- The package would address 20 years of lease timing to match bond repayment for arena upgrades.
- Officials expect the Moda Center project to support thousands of local jobs and major events, including the 2030 NCAA Women’s Final Four.
- Multnomah County and the city would contribute substantial funds to the project as part of the plan.
- Portland Mayor Keith Wilson indicated the city would provide upfront costs and ongoing contributions toward the arena upgrade.
- NBA Commissioner Adam Silver reportedly encouraged Portland to ‘keep pushing’ for the right deal.
- Dundon-led group has an agreement to purchase the Trail Blazers for $4.25 billion, with NBA approval anticipated this spring.
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