Trail Blazers say they’re considering meeting with city to discuss arena lease term sheet – The New York Times

**Trail Blazers Ponder Arena Lease Talks Amid Growing Uncertainty**

In a surprising development, the Portland Trail Blazers have expressed interest in meeting with the city of Portland to discuss the terms of their arena lease. The news comes as the team’s long-term lease at the Moda Center, also known as the Rose Garden, is set to expire in 2026.

According to a report by The New York Times, the Trail Blazers are seeking to renegotiate the terms of their lease, which has been in place since 2013. The team is reportedly looking to secure a more favorable deal, one that would allow them to remain at the Moda Center while also providing a more stable financial future.

The development has sparked concerns among fans and local officials, who fear that the team may seek to relocate if a new agreement cannot be reached. The Moda Center has been the Trail Blazers’ home since 1995, and the team has a rich history in the city.

The team’s interest in renegotiating their lease has been fueled by the growing uncertainty surrounding the future of the arena. The Moda Center is facing significant renovations, which are expected to cost upwards of $40 million. The team has already committed to paying for half of the costs, but it remains to be seen how the remaining expenses will be covered.

A meeting between the Trail Blazers and city officials is expected to take place in the near future, with both parties set to discuss the terms of a potential new lease. The outcome of these talks will have significant implications for the team’s future in Portland, and fans will be eagerly watching to see what happens next.