There are a few details that have to be ironed out before Dundon gets the team.
The National Basketball Association’s Portland Trail Blazers franchise has not yet been sold by the Paul Allen estimate to a group led by Tom Dundon for a reported $4 billion. There seems to be a tentative deal in place however and that could allow Dundon or members of his potential ownership group to talk to Portland politicians or Oregon lawmakers about the business’s need for a new arena in the very near future. The team’s lease to use the Portland arena ends in 2040 so given the timeline of arena construction, Dundon needs to talk to politicians very quickly to try and get taxpayers’ money to not only build an arena but also a village around the structure and that could be a problem. Oregon officials have committed $800 million in bonds to help finance a Major League Baseball stadium in Portland. There is no guarantee that Major League Baseball is going to be expanding to 32 tams in the next few years. MLB may have a labor dispute in 2027.
NBA Commissioner Adam Silver has not weighed in on the sale. He could make a comment but it’s the NBA’s 29 owners who have to decide if Dundon’s group is going to enter the lodge. But Silver has said, “I’d say one of the factors there is the City of Portland likely needs a new arena, so that will be part of the challenge for any new ownership group coming in, but it will certainly be our preference that the team remain in Portland.” The City of Portland does not have any plans to build a new arena to replace the city’s 30-year-old arena. Silver likes Portland as a market but there could be an instant dislike if local politicians are not willing to open up the community pocketbook for a new venue.
Evan Weiner’s books are available at iTunes – https://books.apple.com/us/author/evan-weiner/id595575191
Evan can be reached at evan_weiner@hotmail.com
