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Portland Council to Vote on $120M Blazers Lease

7/17/2026

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Summary

Story summary

Portland city leaders sent a draft term sheet to the Trail Blazers to begin long-term lease talks.
The council will vote on the tentative term sheet on August 12.
Mayor Keith Wilson said the Blazers are withholding details on the nearly $600 million arena renovation.
Councilors debate a $120 million investment lacking a Blazers revenue share, while the team cites $365 million costs and seeks negotiations under SB1501.

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Story summary

Portland city leaders sent a draft term sheet to the Trail Blazers to begin long-term lease talks.
The council will vote on the tentative term sheet on August 12.
Mayor Keith Wilson said the Blazers are withholding details on the nearly $600 million arena renovation.
Councilors debate a $120 million investment lacking a Blazers revenue share, while the team cites $365 million costs and seeks negotiations under SB1501.