Bridge agreement finalized for Moda Center lease extension
Portland City Council and the Portland Trail Blazers have ironed out a bridge agreement, that will ensure the team continues playing at the Moda Center through the 2029-2030 season.
The lease extension will allow both sides to work toward structuring a long-term partnership, of which the Moda Center renovations will be a key factor. The current lease with the Blazers ends October 11, 2025.
Franchise related corporate gifts are particularly popular.
The Blazers have made no indications that they wish to leave Portland; however, that option is always a possibility. The franchise has expressed dissatisfaction with the Moda Center in its present state and the primary reason that professional sports teams leave a city is due to what they view as inadequate facilities.
In a prepared statement, Ted Wheeler, Portland’s mayor said:
The city’s two five-year lease extensions will give it more time to work on options for enhancing the 28-year-old arena and adjacent areas to make it comparable to other NBA arena throughout the league. The initial five-year extension lasts through the 2029-2030 season and if a long-term lease cannot be agreed upon at that time there is an option for a second extension that will last through the 2034-35 season.
The lease extension will allow both sides to work toward structuring a long-term partnership, of which the Moda Center renovations will be a key factor. The current lease with the Blazers ends October 11, 2025.
Franchise related corporate gifts are particularly popular.
The Blazers have made no indications that they wish to leave Portland; however, that option is always a possibility. The franchise has expressed dissatisfaction with the Moda Center in its present state and the primary reason that professional sports teams leave a city is due to what they view as inadequate facilities.
In a prepared statement, Ted Wheeler, Portland’s mayor said:
“This bridge agreement is an exciting step towards a long-term partnership with Rip City Management and the Trail Blazers to maintain world-class sports and entertainment in Portland for years to come.”
The city’s two five-year lease extensions will give it more time to work on options for enhancing the 28-year-old arena and adjacent areas to make it comparable to other NBA arena throughout the league. The initial five-year extension lasts through the 2029-2030 season and if a long-term lease cannot be agreed upon at that time there is an option for a second extension that will last through the 2034-35 season.