What happened: Owner Tom Dundon plans no team contribution toward the arena overhaul. Portland wants a 20-year lease, union labor commitments and a $3 million annual payment; the club rejects the latter two terms.
Why it matters: City and county participation is required to activate Oregon's bond funding. The existing bridge agreement keeps the Trail Blazers at Moda Center through at least 2030, but the impasse has raised concern about their longer-term future.
By the numbers: Proposed public contributions total $573 million: $365 million from Oregon, $120 million from Portland and $88 million from Multnomah County. The state share represents about 64% of that package.
What to watch: Watch whether the club answers Portland's draft term sheet before the coming city and county votes.