PORTLAND – The Portland Trail Blazers are on the verge of a significant change in ownership—and possibly a brighter future for their home arena, the Moda Center.
Trail Blazers’ Moda Center Gets Mostly Positive News Following Sale
Multiple sources confirmed Carolina Hurricanes owner Tom Dundon has reached a tentative agreement to buy the franchise from Paul Allen’s estate. The buying group also includes Blue Owl Capital co-president Marc Zahr and Portland-based Sheel Tyle, co-CEO of Collective Global. These investors, according to people familiar with the matter, intend to keep the team in Portland. That commitment brings mostly positive news for the Trailblazers Moda Center project.
A Clear Commitment to Portland
All indications point to the franchise staying put despite Dundon’s Texas roots. With that uncertainty eased, the next question focuses on the arena. The Blazers have called the Moda Center home since 1995. Plans to upgrade the venue before hosting the 2030 women’s Final Four were reportedly paused until the sale was resolved. Now, those discussions should resume.
In February, the Blazers confirmed they would complete videoboard upgrades by the start of the 2025-26 season. That project remains on schedule. Rip City Management has partnered with ANC, a sports entertainment agency, to enhance visuals and statistical displays across the arena. The upgrades will be ready by opening night.
The Bridge to a Long-Term Solution
A deal with the City of Portland is already in place to support future renovations at the Trailblazers Moda Center and the Rose Quarter. Last year, Rip City Management and the city signed a five-year “bridge agreement” extending the team’s lease. The agreement buys time for a longer lease to be negotiated while work moves forward on the 29-year-old building. The original lease expires in October, with an option to extend through 2035.
Commissioner Adam Silver addressed the issue in July after the Board of Governors’ meeting. “[Portland] likely needs a new arena, so that will be part of the challenge for any new ownership group coming in,” Silver said.
Learning from Other Arenas
The Moda Center is tied for the seventh-oldest arena in the NBA. Every other building in that category has undergone major renovations. While the Blazers have completed some improvements, the venue still needs extensive modernization to match league standards. New owners often invest heavily in their facilities, and Dundon’s track record with the Hurricanes suggests he values fan experience.
When he purchased the NHL franchise in 2018, Dundon told local media, “I don’t think I’m happy with what a fan gets when they come here. We want to make sure that someone feels they got value, they got entertainment, and that they tell their friends. I’m not going to do a lot of talking. We’re going to do things.”
Arena Upgrades Under Dundon
Since Dundon bought the Hurricanes in 2018, PNC Arena has undergone more than $15 million in renovations, including upgraded lighting, new dasher boards, enhanced Wi-Fi, and improved locker rooms. The Centennial Authority also approved a $300 million modernization plan, which will bring expanded concourses, new restaurants, and upgraded seating over the next several years.
The Caveat: Legal Challenges
The biggest shadow over this mostly positive outlook comes from Dundon’s ongoing legal battles. His involvement with the short-lived Alliance of American Football has led to multiple lawsuits. One claims Dundon bought the league for tax advantages and intended to shut it down. Dundon has countersued, alleging he was misled about the league’s finances.
While these disputes are serious, the NBA’s rigorous vetting process makes it unlikely they will derail Trail Blazers’ plans for the Moda Center. With the sale nearing completion, fans can expect arena improvements to remain a central focus of the franchise’s next chapter.
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