The Portland City Council has approved funding for the Moda Center renovation, with negotiations for a new lease agreement expected to continue into December.

The Portland Trail Blazers' owner is reportedly exploring options to move the franchise to a new city due to ongoing frustrations over financing renovations for the Moda Center.

Portland city councilors are concerned about a rushed $120 million vote for the Moda Center's future, citing Mayor Keith Wilson’s secretive negotiations and controversial green-energy funding as sources of internal tension.

Tom Dundon, owner of the Trail Blazers, is demanding $600 million in public funding for Moda Center renovations, sparking a tense standoff as city officials question why a billionaire owner refuses to invest his own money.

The renovation debate for Portland's Moda Center, home of the Trail Blazers, centers on the public cost and the economic value a sports arena brings to the city, as negotiations continue between the team and the city.