PORTLAND Ore. (KPTV) - Oregon state leaders spoke in favor of legislation Wednesday that would be the first step toward renovating the Moda Center and keeping the Trail Blazers in Portland.
The bill, Senate Bill 1501, received a public hearing before the Senate Rules Committee. It would have the state pursue shared ownership of the arena with the city of Portland, allowing the use of state bonds over a 20-year period to help finance renovations.
Portland bought the Moda Center from the Allen Estate in 2024. The estate were former owners of the Trail Blazers. The state is now considering shared ownership of what is currently the oldest arena in the NBA.
**Funding structure proposed**
The bill would [create the “Oregon Arena Fund,”](https://www.kptv.com/2026/02/09/oregon-senate-president-introduces-bill-set-framework-moda-center-renovation/) which would receive tax revenues from wages earned by performers and athletes at the Moda Center. NBA players have an average salary of nearly $12 million per year.
According to the city of Portland, the Moda Center creates approximately $600 million of annual economic activity.
Gov. Tina Kotek spoke at the hearing and referenced that other cities are trying to land an NBA team, including Seattle, which lost the SuperSonics in 2008.
“Cities are competing for professional sports teams and I think we can all agree the Blazers belong in Portland,” Kotek said. “Bill 1501 is a strategic path forward we can build upon without raising taxes.”
**Opposition voices concerns**
Opponents say Trail Blazers ownership should pay for renovations themselves.
“The investors after spending $4 billion seem unwilling to invest a few hundred million more on renovation dollars that Oregonians, especially the poor, will pay for what should be the owner’s financial stability,” said Steven Wright of Tax Fairness Oregon.
Questions have surrounded the Moda Center since the Trail Blazers were sold to a new ownership group last year. The team’s current lease with the arena expires in fall 2030.
**Local contributions planned**
Portland Mayor Keith Wilson and Multnomah County Chair Jessica Vega Pederson said at the hearing that both the city and county would contribute millions toward the renovation. The money would likely come from ticket and arena parking fees, along with fees on rental cars.
Supporters say the bill does not commit any money right now and is simply the first step toward eventually signing a new long-term lease with the Trail Blazers.
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