ESPN: Portland Trail Blazers New Boss Plans to Work with Local Government to Build a New Arena

08 August 14th According to ESPN reporter Shams, NHL Carolina Hurricanes owner Tom Dunton has agreed to buy the Portland Trail Blazers from Paul Allen's legacy at a valuation of more than $4 billion.

Sources reportedly revealed to ESPN that Dunton’s team plans to discuss with the city and state governments a public-private partnership to jointly build a new stadium.

In 2024, the Trail Blazers sold the home stadium Moda Center to Portland for $1 and sold the land where the stadium is located for $7 million. The Trail Blazers then launched a public-private partnership program to renovate the arena and its surrounding areas and signed a new lease until 2030. The Trail Blazers have been playing at the Moda Center since 1995, one of the oldest venues in the league that has not undergone massive renovations. According to Rose Garden Report, the Moda Center upgrade project was originally planned to be completed before hosting the NCAA Division I Women's Basketball Final Four in 2030, but it has been suspended during the team's sale.

Related news: Sell another team! Shams: NHL Hurricanes owner acquires Trail Blazers for valuation of over 4 billion yuan: Hope to stay in Portland, but they may need a new stadium