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The growing uncertainty over the future of the Portland Trail Blazers and the complicated political and financial negotiations seems never-ending. The Athletic reported on Monday that it’s unclear whether the Trail Blazers will attend Thursday’s city council meeting about the arena lease. Brian Windhorst spoke if it’s realistic that the franchise is going to stay in Portland under this new Tom Dundon ownership.
“It’s realistic, but it’s definitely not a done deal,” the ESPN senior analyst said on NBA Today. “There are a couple of things you have to know. Number one, when the Allen Estate sold the team, they did a very short lease. The Blazers owned the arena, but the land under the arena was owned by the city of Portland. They did a very short lease. They did a five-year lease, and there’s almost no protection in the lease for the Blazers to leave.
“Secondly, the Allen Foundation did not sell to someone who was dedicated to keep them local. There were potential local bidders, including Phil Knight, the Nike founder. They didn’t go that direction. The other thing you need to know is that Tom Dundon is not interested, by his own words, in giving any money for this renovation.”
On March 30, the NBA approved the sale of the team to an ownership group led by Tom Dundon. And on June 24, the owner said, “It feels like we’re making a pretty big investment by staying here and paying these tax rates.”
To sign the new lease, the demand from the Blazers group is nearly $575 million in public funding. Now, the state legislature already passed a bill to award $365 million, but there is a catch.
Windy added, “It’s a messy one, Malika [Andrews], because you’ve got the state officials — governors involved — the city is involved, the city Council, the Mayor; the county is involved.”
It is dependent on the city and county providing $208 million in additional funding. Mayor Keith Wilson has pledged $120 million of city funding, but the city council wants clarity on how the Blazers intend to use the funds.
“It feels like they are either disinterested in transparency and accountability with public dollars, which is a nonstarter, or they are simply going through the motions to run out the clock and burn any remaining goodwill in the city and wait for the government to give them an excuse and move the team,” city council president Jamie Dunphy said.
That’s why Brian Windhorst sent a warning with his concluding message.
“But this guy, Tom Dundon, is not someone to be trifled with. I think he’s very clear. He has no problem being blunt, no problem being unpopular, and has no connection to the city of Portland. It is a recipe for relocation. It’s just not something that is going to be very clearly defined right now.”
The Blazers owner quickly initiated aggressive cost-cutting measures, sweeping staff layoffs, and a massive overhaul of the broadcasting team. The contract to head coach is also another example.
Micah Nori signed an unconventional three-year contract featuring only one guaranteed season, back-to-back team options for the remaining two years, with a pay scale at the bottom tier of NBA head coaching salaries with performance incentives.
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“It’s realistic, but it’s definitely not a done deal,” the ESPN senior analyst said on NBA Today. “There are a couple of things you have to know. Number one, when the Allen Estate sold the team, they did a very short lease. The Blazers owned the arena, but the land under the arena was owned by the city of Portland. They did a very short lease. They did a five-year lease, and there’s almost no protection in the lease for the Blazers to leave.
“Secondly, the Allen Foundation did not sell to someone who was dedicated to keep them local. There were potential local bidders, including Phil Knight, the Nike founder. They didn’t go that direction. The other thing you need to know is that Tom Dundon is not interested, by his own words, in giving any money for this renovation.”
On March 30, the NBA approved the sale of the team to an ownership group led by Tom Dundon. And on June 24, the owner said, “It feels like we’re making a pretty big investment by staying here and paying these tax rates.”
To sign the new lease, the demand from the Blazers group is nearly $575 million in public funding. Now, the state legislature already passed a bill to award $365 million, but there is a catch.
Windy added, “It’s a messy one, Malika [Andrews], because you’ve got the state officials — governors involved — the city is involved, the city Council, the Mayor; the county is involved.”
It is dependent on the city and county providing $208 million in additional funding. Mayor Keith Wilson has pledged $120 million of city funding, but the city council wants clarity on how the Blazers intend to use the funds.
“It feels like they are either disinterested in transparency and accountability with public dollars, which is a nonstarter, or they are simply going through the motions to run out the clock and burn any remaining goodwill in the city and wait for the government to give them an excuse and move the team,” city council president Jamie Dunphy said.
That’s why Brian Windhorst sent a warning with his concluding message.
“But this guy, Tom Dundon, is not someone to be trifled with. I think he’s very clear. He has no problem being blunt, no problem being unpopular, and has no connection to the city of Portland. It is a recipe for relocation. It’s just not something that is going to be very clearly defined right now.”
The Blazers owner quickly initiated aggressive cost-cutting measures, sweeping staff layoffs, and a massive overhaul of the broadcasting team. The contract to head coach is also another example.
Micah Nori signed an unconventional three-year contract featuring only one guaranteed season, back-to-back team options for the remaining two years, with a pay scale at the bottom tier of NBA head coaching salaries with performance incentives.
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The post Trail Blazers Fans Warned About Owner Tom Dundon as NBA Insider Shares Update on Arena Relocation appeared first on EssentiallySports. Add EssentiallySports as a Preferred Source by clicking here.
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