Full Breakdown
Portland City Sends First Draft Term Sheet to Trail Blazers Amid Renovation Talks
7/17/2026, 12:41:44 PM
Negotiation Draft Unveiled
Portland city officials delivered an initial draft term sheet to the Trail Blazers this week, marking the first formal proposal in negotiations over a long-term lease and a $120 million renovation of the Moda Center. The draft precedes a council vote scheduled for August 12 and follows Mayor Keith Wilson’s accusation that the team has withheld essential project details. City administrator Raymond Lee said the city hopes the document will prompt the Blazers to provide the information needed to advance a “long-term” agreement.
Key Terms of the Draft
The proposal outlines several core commitments:
- A binding 20-year non-relocation pledge from the franchise.
- Labor-peace agreements to ensure a stable workforce.
- Financial safeguards that cap public funding, limit eligible expenses, and protect the city, state, and county from cost overruns.
- A $3 million annual property-tax offset payment from Rip City Management, with proceeds shared among the city, Multnomah County and Portland Public Schools.
- Requirements for community-event access, local hiring, sustainability standards and partnerships with Albina-based organizations.
Official Statements & Responses
City leaders emphasized urgency. Lee noted the need for a term sheet “to know if they will agree to those terms or not,” while Wilson stressed that “design information and clarity around public investment are necessary to move forward.” The Trail Blazers, through spokesperson Charles Boyle, asserted readiness to negotiate under the framework of Senate Bill 1501 and the $365 million already allocated for the project, adding that “the parties must reach an agreement this year.”
Criticism & Concerns
Several councilors remain hesitant about approving the $120 million investment without a revenue-sharing commitment from the team. Critics argue that the lack of detailed financial disclosures from the Blazers hampers the city’s ability to assess the deal’s fiscal impact, raising questions about the adequacy of public safeguards.
Verbatim Quotes
- “When you get into these type of negotiations, they're tough. Yes, the city has asked and requested certain information from the Blazers and we have not received that. We've had communication with the Blazers and had verbal conversations with the Blazers. That's what has taken place thus far,” — Raymond Lee, City Administrator
- “We are operating on an aggressive timeline to reach a new lease, and we have been explicit with the Blazers that design information and clarity around public investment are necessary to move forward,” — Keith Wilson, Mayor
- “The Trail Blazers are ready to begin formal negotiations immediately using the framework set for us by SB1501 and the $365 million already made available for this project,” team spokesperson Charles Boyle said.” — Charles Boyle, Team Spokesperson
- “The city is making all efforts to make sure that the Blazers stay here and this is the permanent home of the Portland Trail Blazers, but we also want to make sure whatever we’re putting forth as a relationship and agreement with the Blazers that it’s something that we truly all believe in and something that we can move forward in and that we're getting that return on that investment – not only from a city perspective and the finances that are going into the deal but also from a community aspect,” — Raymond Lee, City Administrator
- “However, the parties must reach an agreement this year. We share the City’s sense of urgency. The next step is for the City to bring a term sheet to the table.” — Charles Boyle, Team Spokesperson
