As frustrations between the city of Portland and Trail Blazers owner Tom Dundon continue, the owner could be looking to take his franchise to a new city.
Dundon has made his stance on financing the renovations of the Moda Center, the home of the Portland Trail Blazers, very clear, not wanting to foot the bill.
As Dundon is demanding that the $600 million renovation project be funded entirely by city and state taxpayers, he is also working on another deal that could see him take the Trail Blazers outside of Portland.
Tom Dundon in ‘deep negotiations’ to take Trail Blazers away from Portland
According to Portland Trail Blazers beat writer Bill Oram, Tom Dundon is currently in advanced talks with an unknown entity over a new arena deal.
Should this deal come to pass, it is expected that Dundon will take the Trail Blazers out of Portland to whatever new city he agrees to a deal with.
This move seems to be a direct response to city and state authorities, along with local residents in the Portland area, who are demanding that Dundon finance the renovation of the Moda Center.
City officials in Portland are willing to commit up to $120 million to help renovate the arena, but are hesitant to commit any amount without some private investment in the arena.
Meanwhile, there have been protestors outside the Moda Center who have advocated against giving Dundon the bailout.
Tom Dundon slams huge tax rates amid cries of unfairness over investment situation.
Speaking earlier in the week, Dundon made it very clear why he was asking the city to invest in the arena, noting how much he and the organization spend yearly.
“It feels like we’re making a pretty big investment by staying here and paying these tax rates. I think everybody can characterize things however they want. I don’t see it the same way, but I’m not trying to get people to agree or disagree with me.”
For those who don’t know, the Moda Center is owned by the city of Portland. In turn, the Trail Blazers lease out the arena, with their current agreement running till 2030.
Dundon, who purchased the Trail Blazers officially earlier this year, originally claimed that he wouldn’t be taking the franchise away from the city.
However, given his recent approach to financial matters, including the below-market standard contract he offered new Blazers coach Micah Nori, has suggested he is trying to recoup the investment he made in the franchise.
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