Portland City Council approves term sheet to renovate Moda Center

Portland City Council voted 8-4 on Wednesday to approve a non‑binding term sheet outlining the framework for renovating the City-owned Moda Center. The approval allows negotiations with Rip City Management to enter a more detailed phase. A finalized agreement is expected to come back to Council later this year for consideration.

The Council has approved a term sheet that is reasonable, fair, and focused on keeping the Trail Blazers in Portland, ensuring the long‑term viability of the City‑owned arena, and delivering meaningful community benefits. The term sheet outlines a framework for a modernized, publicly owned Moda Center that supports the economy and strengthens the partnership between the team and the community. The term sheet includes terms such as a binding 20‑year agreement requiring the Trail Blazers to play all home games at Moda Center, requirements for labor-peace agreements, community benefits commitments, and clear financial protections on public funding.

"Portland is an incredible city. We are culturally vibrant, we have the best audiences in the country, our incredible natural beauty provides the backdrop to the best quality of life in the nation - and we are serious people who get things done. This city is a value proposition. It is also a place with values. We move forward from both. I am certain that our greatest chapter is ahead of us, and I hope that the Blazers are a part of that future," said Council President Jamie Dunphy.

Mayor Keith Wilson said, "I'm grateful to my colleagues on the Portland City Council for approving this initial term agreement, which allows us to begin the hard negotiation work needed to secure a fair deal that benefits the City of Portland, the Trail Blazers, and our community. The State of Oregon has already committed more than two‑thirds of the capital funding required to renovate the Moda Center — a City‑owned asset — and keep it a world‑class venue. Now it's up to us to work with our negotiating team and bring this across the finish line."

Next Steps

Council's approval marks a significant step toward securing a long‑term agreement that would modernize the City‑owned arena and outline financial responsibilities between the City and the Trail Blazers' ownership group. The City is working with State and County officials to finalize the formation of the Joint Authority as directed in Senate Bill 1501. The City expects to form the Joint Authority through an intergovernmental agreement in the early fall.

Learn more and follow along with this process at Portland.gov/Moda