The Moda Center, as seen on March 26, 2024, in Portland, Ore.
Kristyna Wentz-Graff / OPB
Portland City Council approved a lease renewal this week to keep the Trail Blazers playing at the Moda Center until at least 2030. The deal transfers ownership of the Moda Center to the city from Rip City Management, the organization that oversees all events at the arena.
The 5-year deal gives the city and Rip City management time to find money to pay for renovations at the 29-year-old arena. In the meantime, the city is required to pay for half of all maintenance the building needs. But, as city facilities manager Karl Lisle said this week, there’s a catch.
“If the Moda Center should cease to be the NBA home of the Trail Blazers, the city will be repaid for its investments in the capital projects.”
Major renovations won’t occur before the Moda Center is scheduled to host the NCAA Women’s Final Four games in 2030.
