Built in 1995, the Moda Center is home base for the Portland Trail Blazers and is the oldest NBA arena to not undergo a major renovation. The upgraded Moda Center will sport new entrances, gathering spaces and concourses.
State and city leaders are hopeful that the team will stay in Portland, signing a new lease once their current lease has ended. Mayor Wilson said:
“Our funding is contingent that the Blazers and the Moda is activated for 20 years. So, I agree we need to lock them in and they want to partner with the city, and the city is going to partner with them.”
Sports franchises authorize a wide range of merchandise as well as Print products bearing the team’s name or logo.
The $600 million needed to upgrade the arena will come from a variety of sources with the city of Portland pledging to donate $120 million and another $88 million having been promised by Multnomah County. A plan by which the State of Oregon would secure the remainder of the framework via the implementation of a 20-year bond in exchange for co-ownership of the Moda Center is being proposed in SB 1501.
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