The Portland Trail Blazers have been an NBA franchise since 1970, but concerns are growing about their future in the city.
New owner Tom Dundon purchased the Trail Blazers from the Paul G. Allen estate for $4.25 billion back in March.
When Dundon, who also owns Stanley Cup champions the Carolina Hurricanes, bought the team, there were initial concerns that he could look to relocate the team across the country.
Unfortunately for Blazers fans, this appears to be becoming more of a reality than a mere concern.
The debate around funding renovations to the Blazers’ home venue, Moda Center, has gone from bad to worse.
Initially, Dundon has said he is not willing to contribute financially towards the $600 million upgrades.
“It feels like we’re making a pretty big investment by staying here and paying these tax rates,” Dundon said at the time.
The state of Oregon has committed up to $365 million towards the renovation and Multnomah County has given $88 million, according to Front Office Sports.
Progress stalled as city officials debate the funding source for their portion, around $120 million.
After talks, the team and the city are now increasingly at odds over a proposed term sheet that would oversee the project.
“According to industry sources and multiple reports, the Trail Blazers are strongly rebuking the term sheet issued last week by the city that would require a $3 million annual payment for a property tax offset, a 20-year lease term that requires all home game at the Moda Center, and “a labor harmony agreement” likely leading to unionized jobs at the arena,” Eric Fisher of Front Office Sports wrote.
This further increases speculation over whether Dundon is eyeing a move away from Portland, being unwilling to sign the 20-year lease.
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Additionally, there’s no debate that Moda Center is falling further behind next generation NBA arenas and the soon to be Philadelphia 76ers’ new venue.
Opening in 1995, Portland’s home lacks the modern amenities that the $600m renovations would improve.
However, the lack of commitment from their owner could be a message hidden in plain sight that he wants out.
Last week, NBA commissioner Adam Silver acknowledged the Portland discussions had “gone off track in various ways,” and that he “was hoping more progress would have been made by now.”
The lack of movement on renovations only further increases pressure on the NBA’s newest owner.
Dundon faced criticism for replacing free T-shirts for fans at home playoff games with towels and the dismissal of 70 employees.
Dundon hasn’t explicitly threatened to pack up the franchise just yet, his confrontational approach to local leadership tells a story of its own.
With major expansion markets like Las Vegas and Seattle waiting in the wings for their own NBA teams, Portland risks being backed into a corner if its owner won’t budge.
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