Oregon Officials Negotiate $600M Moda Center Renovation with Blazers Owner

Taxpayers could foot the bill while the team contributes nothing, raising concerns about a 'blank check' to a billionaire owner.

Published on Feb. 21, 2026

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Oregon lawmakers have unveiled a plan for state, city, and county taxpayers to spend around $600 million to renovate the 30-year-old Moda Center, home of the Portland Trail Blazers. However, the team's new billionaire owner, Tom Dundon, would not contribute any funding. Some critics argue the deal is too favorable to the team and owner, who made his fortune in the subprime auto lending industry.

Why it matters

The proposed deal has sparked debate over whether taxpayers should subsidize a professional sports franchise, especially one owned by a wealthy businessman. Supporters argue the Blazers are vital to the region's economy and culture, while critics say public funding for arenas rarely pays off. The negotiations also highlight the power imbalance between the team's negotiators and the local politicians representing taxpayer interests.

The details

The $600 million renovation plan, outlined in Senate Bill 1501, would have state, city, and county taxpayers cover the full cost, with no contribution from the Blazers or owner Tom Dundon. The city currently owns the Moda Center after buying it from the team for $1 in 2024 and extending the team's lease to 2030. Critics like tech entrepreneur Edan Krolewicz argue the public should get a share of revenues like naming rights and franchise appreciation instead of just paying the bills.

  • Senate Bill 1501 was unveiled on February 11, 2026.
  • The current Moda Center lease expires in 2030.

The players

Tom Dundon

The billionaire owner of the Portland Trail Blazers who made his fortune building what court records say became the nation's largest subprime auto lender.

Edan Krolewicz

A tech entrepreneur and Blazers fan who has analyzed the arena deal and argued the public should get a better financial stake.

Rob Wagner

The Oregon Senate President who is the chief sponsor of Senate Bill 1501, the framework for the $600 million Moda Center renovation.

Tina Kotek

The Democratic governor of Oregon who is running for re-election and has voiced support for the arena funding plan.

Dewayne Haskins

The president of the Portland Trail Blazers, who says the proposed deal is fair and comparable to other NBA arena agreements.

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What they’re saying

“What we do not want—what no rational person should want—is to write a $600 million blank check to a billionaire who has committed nothing in return.”

— Edan Krolewicz, Tech entrepreneur (Substack)

“Every generation of Oregonians has invested in building community spaces that bring people together. This is our opportunity to secure Portland's future, revitalize historic neighborhoods, and strengthen Oregon's economic competitiveness.”

— Tina Kotek, Governor of Oregon (Oregon Journalism Project)

“This is a market-rate deal. This is what it costs. If we let the Blazers slip away, just like Seattle did with the SuperSonics, there will be cities across the country lining up to have them come to their city.”

— Ben Bowman, House Majority Leader (Oregon Journalism Project)

What’s next

The Oregon Legislature will continue to debate and potentially amend Senate Bill 1501 to determine the final terms of the Moda Center renovation funding.

The takeaway

The negotiations over public funding for the Moda Center renovation highlight the power imbalance between the wealthy Blazers owner and the local politicians representing taxpayer interests. While supporters argue the team is vital to the region's economy and culture, critics warn against writing a 'blank check' to a billionaire without securing a better financial deal for the public.