NBA franchise given green light for arena revamp to bring ‘new energy’ to city after $4bn sale

Mar 15, 2026 - 11:15

The Moda Center is getting a much deserved – and very much needed – upgrade.

Home to the NBA team Portland Trail Blazers since 1995, the arena has fast become outdated.

A general view of Moda Center on October 22, 2025 in Portland, Oregon. FBI Director Patel announced indictments against current and former N.B.A. players, that include Chauncey Billups coach of the Portland Trailblazers and hall of fame inductee, Terry Rozier, a guard for the Miami Heat, in a pair of criminal cases that involved the coordination of Mafia families and professional athletes. — The Moda Center has been approved for state-funded renovations based on a new bill

PORTLAND, OREGON – OCTOBER 22: A general view of game action between the Portland Trail Blazers and the Minnesota Timberwolves at Moda Center on October 22, 2025 in Portland, Oregon. NOTE TO USER: User expressly acknowledges and agrees that, by downloading and or using this photograph, User is consenting to the terms and conditions of […] — Funds have been approved by Oregon state lawmakers to renovate the Moda Center

In dire need of renovation, despite being just 30 years old, Oregon lawmakers passed the Senate Bill 1501 last week which now gives the state joint ownership of the Moda Center.

This ultimately allows the city to secure a reported $365 million in funding to restore the facility, which will also play host to the WNBA‘s newest expansion franchise, the Portland Fire.

The Oregon Legislators’ approval comes after the Trail Blazers were sold by Paul Allen’s estate, who have also put the current NFL Super Bowl champions Seattle Seahawks up for sale, to businessman Tom Dundon.

The $4 billion deal is expected to be finalized in the spring.

Dundon is also the owner of NHL franchise Carolina Hurricanes, and has just offloaded 12.5 percent of his franchise for a whopping $2.66 billion.

Adam Silver speaks out on Moda Center plans

NBA commissioner Adam Silver was in attendance for the Blazers’ 124-114 win over the Utah Jazz on Friday night, where in a video posted by Portland, he spoke about the next steps of the renovation process.

“I’ve had great conversations with the governor and the mayor, and it’s been a bipartisan effort,” Silver said.

“I think everyone in this community recognizes that, even in addition to the Trail Blazers and the Fire — and we can’t forget about the Fire, which are about to open this season — that these arenas are multi-use facilities, whether it’s conventions or trade shows, concerts, graduations, you name it.

“They’re part of the life blood of communities. So it’s not just for the Trail Blazers and the Fire. You need a state of the art arena here.”

The Blazers have estimated that the project will cost $600 million in total.

Carolina Hurricanes owner Tom Dundon gets interviewed before the warmups of the Carolina Hurricanes game versus the New York Rangers on February 19th, 2019 at PNC Arena in Raleigh, NC. — Dundon’s deal to purchase the Blazers is expected to be finalized in the spring

Portland Trail Blazers proposed new arena — The New Moda Center vouches to make Portland a vibrant sports and entertainment hub

As part of their long-term vision for the renovations to the Moda Center, they have cited the need to become an attractive destination for big events.

This includes that of the NBA All-Star Game, as well as potentially being in the conversation to host future NCAA Tournament games.

“You need a state-of-the-art arena here, and the Moda Center has become probably the oldest building in the league,” Silver added.

“There may be a building or two that are older, but have already gone through significant renovations.

“So you know that this work needs to be done, not just for the basketball teams in town, but for all those events, and because I know, on behalf the economy of Portland, you guys have lost out on some big events because this arena hasn’t been updated in a long time.

“So it’s just work that needs to get done. But it seems like the spirit is there.”

Adam Silver believes a renovated Moda Center will become an attractive sports destination

The aim is that the renovations will reimagine the arena by boosting fan experience whether that be through seating, concourses, social spaces and improving the center’s sustainability, while also honing in on the Oregon culture by working closely with local businesses, artists, etc., according to website dedicated to the ‘New Moda Center’.

They also project that it will spark 4,000-plus new jobs, see the incoming of 1.6 million vistors a year, and ultimately drive in $670 million in annual regional economic impact in the Rose Quarter and Lower Albina.

“Whether you’re a fan of the Trail Blazers, bull riding, or pop music, a reimagined Moda Center will provide a renewed entertainment destination for all of Oregon,” their vision statement read.

“By renovating the arena, and revitalizing the Rose Quarter and Lower Albina, we’ll bring together Oregonians from across our state and give new energy to the heart of Portland, sparking job growth and economic development.

“A win-win for the entire region.”

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