Portland Defends $573 Million Moda Center Draft as Trail Blazers Reject 20-Year Lease Terms
Updated
Updated · Fox 12 Oregon · Jul 21
Portland Defends $573 Million Moda Center Draft as Trail Blazers Reject 20-Year Lease Terms
3 articles · Updated · Fox 12 Oregon · Jul 21
Summary
Loretta Smith said Portland's rejected Moda Center term sheet was only an opening bid, dismissing anonymous claims from Trail Blazers sources that the sides are "very far apart."
A city spokesperson said the draft would provide $573 million for renovations to keep the team in Portland, but it was prepared without information officials had been seeking from the Blazers.
Smith said she will push for a "fair deal" rather than "give the farm away," underscoring city concern that losing the NBA team would hurt Portland's community and business base.
The Blazers' board met Monday night, and Portland City Council is scheduled to vote on the matter Aug. 12 as the team's long-term future in the city remains unsettled.