Since Adam Silver became NBA commissioner in 2014, not a single team has moved to a new city. That clean streak is now facing its toughest test yet in Portland. Talks between local leaders and new owner Tom Dundon over fixing up the aging Moda Center have hit a standstill, putting the Trail Blazers’ future in Oregon on thin ice.
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During his Board of Governors news conference in New York, he was asked about the possibility of the Trail Blazers eventually leaving Portland and did not completely rule it out. However, the commissioner made his preference clear.
“Well, let me begin by saying that it is my hope and belief that the Portland Trailblazers or the Trailblazers can be successful in Portland, Oregon,” Silver said. “That it is important at the same time that Tom Dundon reaches a deal with the city officials and the state elected officials that makes operating in Portland viable for the long term.
“So I don’t want to make that a point of pride for me, and that would be prejudging the situation, but I want to be very direct about it. I would see it as a failure if we did not keep the team in Portland. I’ve spent a lot of time in that community over the years. They’ve shown amazing support for the Trailblazers. They’re some of our best fans around the league.”
The bigger issue, however, is whether Portland can provide an arena that works for the franchise, the WNBA’s Portland Fire, and the wider community. “We need a state-of-the-art arena,” Silver said. He argued that the Moda Center, which opened in 1995, now ranks near the bottom among NBA arenas by modern standards.
The Commissioner also stressed that the building serves purposes beyond basketball, including concerts, conventions, and graduations. The Fire also uses the arena, adding another reason for a long-term facility solution. This puts Dundon at the center of negotiations over who funds the renovation.
The billionaire bought the Trail Blazers for $4.25 billion in August 2025 and also owns the NHL’s Carolina Hurricanes. His first major arena negotiation with Portland has led many to believe that the intention was never to keep the team in Portland. The current framework calls for a massive renovation of the Moda Center.
The city’s position is already outlined in a nonbinding term sheet approved by Portland City Council in August. The council voted 8-4 to advance the proposal, with Councilors Mitch Green, Candace Avalos, Tiffany Koyama Lane, and Angelita Morillo voting against it. The approved framework calls for the Trail Blazers to pay $3.1 million in annual rent, with an inflation-linked escalator. Portland’s proposal also includes up to $120 million for renovations and another $275 million in ongoing funding for approved capital expenses.
Portland’s initial term sheet put the public investment at about $573 million, while the latest broader framework is described as a $586 million project. The money would come from multiple levels of government. Portland has committed $120 million, Multnomah County has approved about $101 million, and Oregon has committed $365 million. The state funding carries the most immediate deadline, expiring December 31 if the sides fail to reach an agreement. Portland is also asking the Trail Blazers to contribute directly.
The city’s term sheet calls for annual rent, a payment tied to the team’s property-tax obligation and other financial commitments. The proposal also includes labor requirements for the arena project, including union wages and workers’ ability to organize. The city has separately proposed up to $275 million over 20 years for eligible ongoing capital expenses, funded through arena-related revenues and other sources. In return, the city wants a long-term commitment from the franchise.
Dundon has previously indicated that he would agree to a 20-year lease if the state, city, and county provided the requested renovation funding.
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Keith Wilson has said negotiations are moving forward, although he wants them to move faster. The major disputes include rent, the team’s obligation to maintain the Moda Center at a first-class standard, Portland’s livability concerns, and labor provisions. The two sides have been meeting regularly as they try to resolve those issues.
Even the Trail Blazers, however, have not suggested that the negotiations are headed toward a breakup. After KATU reached out for a response to Mayor Keith Wilson’s characterization of the talks, a team spokesperson pointed to the organization’s desire to keep working toward a deal.
“We appreciate Mayor Wilson, his office, and everyone who worked to advance the term sheet. We look forward to continuing to work with our partners to finalize an agreement that supports the long-term success of Portland, the city-owned arena and the Trailblazers.”
Adam Silver also said he recently spent significant time with Dundon in New York and that the owner discussed Portland with other NBA owners who have gone through similar arena negotiations. The commissioner also offered the league office’s help and urged everyone involved to lower the temperature. The clock is now becoming an important part of the story. Oregon’s $365 million commitment expires at the end of December without a deal, while Portland still needs to complete the lease negotiations and move toward formal approval.
For now, relocation remains a possibility, not a decision.