Trail Blazers seek $600 million public package to modernize Moda Center as 2026 deadline nears

A fast-moving funding push during Oregon’s 2026 short session

The Portland Trail Blazers are pursuing a public-financing package aimed at modernizing the Moda Center, a project discussed in recent weeks among state lawmakers, the City of Portland and Multnomah County. The proposed plan totals about $600 million in public support and is being framed as a pathway to a larger, long-term arrangement designed to keep the team playing in Portland for decades.

The timing is tied to Oregon’s 2026 legislative short session, which convened on February 2, 2026, and faces compressed deadlines for moving complex financing legislation.

How the funding concept is structured

The plan under discussion would divide responsibilities across multiple layers of government. One central component would be state-issued bonds that would be repaid using Oregon income taxes tied to athletes and performers who earn income while appearing at the Moda Center. The remainder would come from local public participation split between Portland and Multnomah County.

Public discussions have indicated the state portion would be the largest share of the package, with local participation expected to complete the overall financing. Efforts have faced local-level resistance, which has slowed the ability to advance a bill at the state level within the short-session calendar.

• Estimated public package: about $600 million
• State share: bonds backed by income taxes generated by athletes and performers at the arena
• Local share: contributions expected from Portland and Multnomah County

What Portland has already approved for the arena

The Moda Center’s governance and financing backdrop changed significantly in 2024, when Portland City Council approved agreements transferring the arena into public ownership for $1 and authorizing the city’s purchase of an underlying land parcel for $7.13 million. Those actions were structured as part of a bridge agreement intended to keep the team playing at the Moda Center through at least October 11, 2030, with an option to extend to October 11, 2035.

The bridge arrangement was designed to create time for due diligence, negotiations and coordination with additional funding partners for a longer-term deal tied to major renovations.

The 2024 bridge agreement framework was intended to preserve continuity at the arena while longer-term renovation financing is assembled.

Ownership transition adds another layer of complexity

The public funding discussions are unfolding as the franchise’s ownership is in transition. In August 2025, a group led by Tom Dundon reached a tentative agreement to purchase the Trail Blazers from Paul Allen’s estate, pending NBA approval. Separately reported deal timelines have pointed to a targeted closing date in 2026, underscoring that government negotiations over long-term arena investment are occurring alongside a changing ownership picture.

What happens next

Any state financing proposal would still require legislative approval during the 2026 session, and local governments would need to finalize their roles for a combined package to proceed. The outcome will shape whether a broader renovation plan advances beyond the current bridge framework and into a long-term redevelopment and arena modernization agreement.