Trail Blazers, Portland agree to bridge agreement

The Trail Blazers and the Portland City Council have “finalized a bridge agreement” keeping the team playing at the Moda Center “through at least the 2029-30 season.” The team’s current lease terminates on Oct. 11, 2025. The actual agreement “will be approved on Wednesday” during a 2pm PT City Council meeting. The first five-year extension runs through the 2029-30 season. Should an agreement on a long-term lease not be reached within that time frame, an option exists to extend the lease through the 2034-35 season. The Blazers have “made it clear” that Moda Center, the oldest arena in the NBA, does “not measure up to other NBA arenas.” Under the new agreement, the Blazers, who own the building but lease the land, will "transfer ownership of the building to the city for $1" (Portland OREGONIAN, 8/2).