New state report highlights divide with Blazers over comparable NBA arena deals

Key Points:

• A state-commissioned report on the $600 million Moda Center renovation highlights that most NBA arena deals involve significant private investment or long-term revenue sharing, unlike the current Portland proposal which lacks substantial private contributions.
• The report, prepared by PFM Financial Advisors, analyzed six NBA markets including Cleveland, Milwaukee, and Orlando, noting that only Memphis and Orlando relied entirely on public funding, with Orlando offsetting costs through rent and revenue sharing.
• The Portland Trail Blazers dispute the state's choice of comparable cities, instead citing markets like Salt Lake City and Charlotte, some of which had no private investment but included other team financial commitments such as rent payments or development investments.
• Some Portland city councilors insist on private investment or revenue-sharing terms from the Blazers to justify public funding, while the team argues it has already contributed significantly through past private funding and ongoing payments related to the arena.
• Negotiations remain contentious with differing views on what constitutes a fair "market deal," and the final agreement depends on city council approval expected later this year, with ongoing public discussions planned.