League: NBA Sport: Basketball Country: United States Category: General

Portland City Council approves term sheet for Moda Center renovations

Yahoo Sports • 1 min read • Latest: Aug 12, 2026, 9:01 PM

Last updated Aug 12, 2026

Portland City Council approves term sheet for Moda Center renovations

Summary

The Portland City Council has approved a term sheet related to renovations at the Moda Center, a facility critical to the local NBA team. The vote passed 8-4 and includes an increase of over $3 million in annual rent. Discussions will continue as the Portland Trail Blazers have previously expressed dissatisfaction with the terms. The council's vote marks a significant step in what could be a lengthy negotiation process ahead.

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Yahoo Sports OregonLive

Key Details

•Portland City Council approved the term sheet with an 8-4 vote.
•Renovations include a more than $3 million annual rent increase.
•Portland Trail Blazers have previously opposed the original terms.
•Negotiations are expected to continue following this approval.

Latest Updates

5:57 PMYahoo Sports — Portland City Council Votes to Add $120 Million Toward Moda Center Renovations
9:01 PMYahoo Sports — Portland City Council approves term sheet on Moda Center renovations
8:50 PMOregonLive — Portland councilors back $120M for Moda Center, in key milestone toward Blazers deal - OregonLive.com

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